SBI Holdings, the Japanese financial giant and a longtime partner of Ripple, has taken a majority stake in Singapore-based cryptocurrency exchange Coinhako. The deal closed on July 16 after the Monetary Authority of Singapore (MAS) gave its nod. Coinhako will now become a consolidated subsidiary of SBI Holdings.
MAS approval and the closing
The acquisition needed a green light from Singapore's central bank and financial regulator. MAS signed off before the July 16 close. That regulatory step matters — Singapore has been tightening its grip on crypto services, and any change of control at a licensed exchange requires explicit approval. Coinhako holds a Major Payment Institution license from MAS, so the deal keeps the exchange squarely under the regulator's oversight.
What changes for Coinhako
Coinhako will operate as a consolidated subsidiary of SBI Holdings. That means SBI consolidates the exchange's financials into its own books. For users, the practical changes aren't spelled out yet — but the ownership shift gives Coinhako deeper pockets and a direct line to one of Asia's biggest financial groups. SBI already runs its own crypto exchange in Japan, SBI VC Trade, and has been pushing into digital assets across the region.
SBI's crypto push in Southeast Asia
SBI Holdings has been a Ripple partner for years, using XRP for cross-border payments through its Money Tap app. Buying into Coinhako gives it a regulated foothold in Singapore, a hub for crypto trading and blockchain startups. The move fits a pattern: SBI has been scooping up stakes in crypto firms from Hong Kong to the Middle East. Coinhako, founded in 2014, is one of Singapore's older exchanges and has survived multiple market cycles.
The deal is done. Now the question is how SBI integrates Coinhako into its broader digital-asset strategy — and whether other Japanese financial groups follow suit in Singapore.
