SBI Holdings has taken control of more than 1.11 trillion Shiba Inu (SHIB) tokens following its acquisition of Singapore-based crypto exchange Coinhako, a deal approved by the Monetary Authority of Singapore. The move makes the Japanese financial giant one of the largest known holders of the meme-inspired cryptocurrency.
The MAS-Approved Deal
Singapore's central bank and financial regulator, the Monetary Authority of Singapore, signed off on SBI Holdings' purchase of Coinhako. The acquisition, completed earlier this year, gave SBI a foothold in Southeast Asia's crypto market. Coinhako, founded in 2014, operates a licensed digital payment token service in the city-state.
As part of the transaction, SBI inherited Coinhako's digital asset inventory, which included the massive SHIB stash. The exact timing of the token transfer has not been disclosed, but the holdings were absorbed into SBI's balance sheet after regulatory clearance.
What the SHIB Holdings Mean
The 1.11 trillion SHIB tokens are worth roughly $27 million at current market prices. For context, that amount represents about 0.19% of Shiba Inu's total circulating supply of roughly 589 trillion tokens. SBI now holds a position that could influence market sentiment, though the company has not announced any plans to sell or stake the tokens.
SBI Holdings is no stranger to crypto. The firm operates its own exchange, SBI VC Trade, and has invested in blockchain projects across Asia. Adding a large SHIB position diversifies its portfolio beyond Bitcoin and Ethereum, which it has traditionally favored.
The acquisition also signals that regulated financial institutions are willing to hold meme coins, a category often dismissed by traditional investors. Whether SBI views SHIB as a long-term asset or a short-term trading position remains unclear.
Unanswered Questions
SBI has not commented on how it plans to manage the SHIB tokens. The company could integrate them into its exchange's liquidity pool, use them for staking on ShibaSwap, or simply hold them as a reserve asset. Investors will be watching for any disclosure in SBI's next quarterly report.
The broader crypto market is also waiting to see if other regulated entities follow SBI's lead. For now, the 1.11 trillion SHIB tokens sit in a Japanese financial conglomerate's wallet, a fact that would have seemed improbable just a few years ago.
