Japan's SBI Group has acquired a majority stake in Singapore-based crypto exchange Coinhako. The deal, announced on Friday after regulatory approval, forms part of a broader strategy to build a cross-border digital asset network across Asia.
SBI Holdings received approval from Singapore's Monetary Authority to complete the acquisition. Coinhako holds a Major Payment Institution license and operates in Singapore.
The move follows a Thursday partnership with Ondo Finance to tokenize Japanese equities and other assets using SBI's JPYSC stablecoin. SBI also partnered with the Solana Foundation, which will take an equity stake in a renamed entity called SBI Solana Global focused on stablecoins and real-world asset tokenization.
Yoshitaka Kitao, CEO of SBI Holdings, said the group seeks to establish a global corridor for digital assets by connecting exchanges worldwide. The strategy includes a planned $289 million purchase of Tokyo-based Bitbank, expected to close in October subject to regulatory approval.
