SBI Holdings, Inc. declared its intention to purchase the majority of Coinhako Group, a Singaporean digital asset platform.
In a statement, SBI announced that SBI Ventures Asset Pte. Ltd., its wholly-owned subsidiary based in Singapore, had signed a letter of intent with Holdbuild Pte. Ltd., also based in Singapore, to provide investment capital to Coinhako and purchase Coinhako shares from a number of current shareholders.
Coinhako is anticipated to become a consolidated subsidiary of SBI Holdings upon the completion of the proposed transaction.
Specific strategies for implementing the capital infusion and purchasing shares from Coinhako’s current shareholders are presently being discussed and are contingent upon obtaining the necessary regulatory approvals.
Coinhako’s main business partners are Alpha Hako Ltd., a registered virtual asset service provider governed by the BVI Financial Services Commission, and Hako Technology Pte. Ltd., a significant payment institution licensed and governed by the Monetary Authority of Singapore (MAS).
An important turning point in SBI’s global digital asset strategy is this proposed transaction.
The two companies aim to create a next-generation digital asset powerhouse in Asia by fusing SBI’s vast financial resources and global network with Coinhako Group’s ten years of operational experience and strong digital asset infrastructure.
In order to offer seamless services that connect traditional and next-generation finance to both retail and institutional clients, SBI and Coinhako will optimize their mutual synergies.
“In this era of tokenization, the importance of global infrastructure for digital assets is growing ever greater,” stated Yoshitaka Kitao, Representative Director, Chairman & President of SBI Holdings.
“Bringing Coinhako into the SBI Group as a consolidated subsidiary is not merely an investment in a single platform,
“By integrating it with the digital space ecosystem SBI have built, this is a solid step toward realizing the SBI Group’s strategy: expanding the global corridor for digital assets and creating next-generation finance including tokenized stock and stable coin,” he added.
Yusho Liu, Coinhako’s co-founder and CEO, stated that the partnership with the SBI Group expedites their goal of becoming Asia’s leading hub for digital assets.
“Mr. Kitao’s vision for a global digital corridor perfectly mirrors our own ambitions,
“With SBI Group’s extensive network and resources, Coinhako will scale its institutional-grade infrastructure to meet the surging demand for tokenized assets and stable coins, ensuring Singapore remains at the heart of the world’s next-generation financial system,” he added.
