Japanese financial services group SBI Holdings has acquired a majority stake in Holdbuild, the parent company of Singaporean crypto platform Coinhako, after receiving regulatory approval from Singapore’s central bank.
The approval from the Monetary Authority of Singapore (MAS) enabled SBI to acquire company shares from existing shareholders through a capital injection, making Coinhako a consolidated subsidiary of SBI, the company announced on Thursday.
Coinhako holds a Major Payment Institution license under MAS through its subsidiary, Hako Technology Pte. Ltd. SBI announced its intent to acquire a majority stake in the Singaporean crypto exchange in February.
SBI said it plans to combine Coinhako’s customer base and regional network with its own financial services and digital asset businesses, including its JPYSC stablecoin initiative.
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Financial terms of the transaction were not disclosed. SBI did not immediately respond to Cointelegraph’s request for details on the deal.
The acquisition is part of SBI’s broader expansion in digital assets. Earlier this month, the company led a $76 million Series C funding round for institutional crypto exchange EDX Markets. It also shared plans to acquire Bitbank for $289 million, aiming to create one of Japan’s largest crypto exchanges.
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SBI described Singapore as a key hub in its digital asset strategy and said the acquisition would strengthen its presence in Southeast Asia. SBI said it plans to hold its first overseas branch managers’ meeting in Singapore this summer to strengthen its local business foundation.
SBI has accelerated its digital asset expansion in recent months through acquisitions, investments and tokenization initiatives. This week, the company partnered with Ondo Finance to bring tokenized Japanese stocks and integrate its JPYSC stablecoin for settlement and collateral.
In February, SBI and Startale Group unveiled Strium, a layer-1 blockchain focused on tokenized securities and real-world assets. The network is designed to support 24/7 trading, tokenized equity settlement and institutional financial applications as SBI expands its digital asset infrastructure across Japan and overseas markets.
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