Deep Tide TechFlow news, on July 17, SBI Holdings announced that it completed the acquisition of a majority stake in the Singapore cryptocurrency platform Coinhako on July 16 and has included it within the scope of its consolidated subsidiaries. The transaction has obtained the necessary approvals from the Monetary Authority of Singapore.

Entities under Coinhako hold a large payment institution license in Singapore, and have a foundation for compliant operations in the digital asset services sector. SBI said the acquisition is an important step in its global digital asset strategy. Going forward, it will leverage Coinhako’s customer base in Southeast Asia, operational experience, and regional network to promote business development in Japan and Southeast Asia, including cryptocurrency asset trading, stablecoins, tokenization, on-chain finance, and cross-border payments.