SBI Holdings has announced the acquisition of Coinhako, a major cryptocurrency platform based in Singapore. The move is in line with the company’s plan to expand its digital footprint across Asia.
The Japanese financial group said it will secure a majority stake through a capital injection and share purchases from existing shareholders. The deal is expected to signal a push towards building a stronger crypto infrastructure across the region.
Aside from strengthening its market positions, SBI would be looking to combine traditional finance experience with blockchain-based services. The company believes the move will support growing demand for tokenized assets and stablecoins across the growing financial markets in Asia.
SBI Holdings plans regional growth move with Coinhako acquisition
According to its statement, SBI Holdings’ Singaporean subsidiary, SBI Ventures Asset, is expected to sign a memorandum of understanding (MoU) with Holdbuild Pte, the parent company in charge of Coinhako. The transaction will still have to undergo regulatory approval and a final agreement on deal structure.
However, once everything is completed, Coinhako will become a subsidiary of SBI Holdings.
Analysts also see the acquisition as more than a financial investment. The deal is expected to support the broader digital strategy of SBI Holdings, which will see digital assets linked to mainstream financial services.
Consequently, the move could help position Singapore as a key regional base for the group’s tokenization ambitions. Yoshitaka Kitao, the Chairman, President, and CEO of SBI Holdings, discussed the long-term ambition behind the acquisition and how it could help all the parties involved.
“In this era of increasing tokenization, the importance of a global infrastructure for digital assets has never been greater,” he said. “Welcoming Coinhako into the SBI Group as a consolidated subsidiary is more than just an investment in a platform. We are confident that integrating Coinhako into the digital asset ecosystem that the SBI Group has built will expand the global corridor for digital assets and become a major driving force in realizing next-generation finance, including tokenized stocks and stablecoins.”
In addition, SBI Holdings wants the infrastructure of Coinhako to support institutional and retail investors looking for seamless access to digital assets. This way, the company will build stronger links between the traditional financial systems and blockchain-based products.
The combined platform is also expected to support new services that are tied to tokenized securities and stablecoins. The leadership of Coinhako also sees the partnership as a move that would help its growth.
Speaking about the acquisition, Yushio Liu, co-founder and CEO of Coinhako, said that the collaboration with SBI Holdings will help the platform’s mission to become a premier digital asset hub.
He added that the ambitions of Coinhako align with those of SBI Holdings, which is expected to create a positive environment for both firms. Liu added that Coinhako will use the resources provided by SBI to expand institutional infrastructure to meet the growing demand for its services across Singapore and other parts of Asia.
Source: https://www.cryptopolitan.com/sbi-holdings-to-acquire-coinhako/
