Japanese financial conglomerate SBI Holdings plans to acquire a majority stake in Singapore-based exchange Coinhako. The deal would make Coinhako a consolidated subsidiary of SBI, expanding the group’s presence in the digital asset space. Financial terms were not disclosed, but the move would give SBI a licensed base in Singapore, a key crypto hub in Asia.

Coinhako operates a licensed crypto trading platform in Singapore, providing digital asset trading services through Hako Technology. SBI Holdings previously invested in Coinhako through a joint fund with Switzerland’s Sygnum Bank. The partnership aims to enhance Coinhako’s infrastructure to meet the growing demand for tokenized assets and stablecoins.

SBI Holdings has been actively expanding its blockchain footprint, partnering with various companies to develop regulated stablecoins and digital asset tools. The conglomerate’s collaboration with Chainlink aims to build innovative solutions for financial institutions in Japan and the Asia-Pacific region. SBI’s strategic investments underscore its commitment to blockchain technology and digital assets.

Read more at Cointelegraph: SBI Holdings Targets Majority Stake in Singapore Exchange Coinhako