SBI Holdings has acquired a controlling stake in Singapore’s leading crypto exchange Coinhako following approval from the Monetary Authority of Singapore, officially making the company a consolidated subsidiary, according to a Friday announcement.

The acquisition, completed on July 16 through subsidiary SBI Ventures Asset, consisted of a capital investment and the purchase of shares from existing shareholders. Coinhako operates regulated digital asset businesses through Hako Technology, which holds a Major Payment Institution license in Singapore, and Alpha Hako, a crypto asset service provider registered in the British Virgin Islands.

According to SBI, the transaction reinforces Singapore’s role as a strategic base for its digital asset business across Asia-Pacific. The company is also advancing blockchain-based financial infrastructure with Startale, including JPYSC, Japan’s first trust-based yen stablecoin.

The Japanese financial conglomerate said that integrating Coinhako’s established customer base, regulatory experience and regional footprint with the group’s financial services, technology and international network will help expand digital asset connectivity between Japan and Southeast Asia.

SBI plans to introduce new services linked to its digital finance ecosystem while pursuing growth opportunities in tokenization, stablecoins, on-chain finance and cross-border digital asset transactions under local regulatory frameworks.

The company added that it will further reinforce its Singapore operations during the year marking the 60th anniversary of diplomatic ties between Japan and Singapore, including hosting its first overseas branch managers’ meeting in the city-state.

The latest development comes as SBI accelerates its crypto expansion, with plans to acquire Japanese exchange Bitbank in a ¥46.7 billion ($289 million) deal that would create the country’s largest crypto trading group by assets under management.