From acquiring Bitbank to taking control of Coinhako, and then teaming up with Ondo to tokenize stablecoin assets, SBI is playing a big game—traditional finance and the walls on-chain are being torn down layer by layer.

Crypto news: SBI Group announced the acquisition of a controlling stake in Singapore’s crypto platform Coinhako, aiming to build a global digital asset corridor. Coinhako holds the Monetary Authority of Singapore’s major payments institution license. SBI CEO Yoshitaka Kitao said SBI is Asia’s first financial group to fully pursue the value chain of digital assets, and plans to connect traditional financial markets with blockchain infrastructure by issuing stablecoins and tokenizing real-world assets. The acquisition comes shortly after SBI’s collaboration with Ondo Finance, using its JPYSC stablecoin to tokenize Japanese stocks and other assets. SBI also plans to acquire Tokyo crypto exchange Bitbank, with a deal value of about $289 million, expected to be completed in October.