SBI Holdings received regulatory approval to acquire a majority stake in Singapore-based crypto exchange Coinhako as it expands into stablecoins, onchain finance and tokenized assets.
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.
