SBI Holdings has signed a letter of intent to acquire a stake in Singapore cryptocurrency exchange Coinhako, Cointelegraph reported on Monday.
The acquisition will be carried out through SBI Ventures Asset. Once the deal is completed, SBI Holdings will become Coinhako's controlling shareholder. SBI Holdings plans to make Coinhako a wholly owned subsidiary after regulatory approval.
SBI Holdings Chairman Yoshitaka Kitao said, "This acquisition is not just an investment in a platform, but part of a strategy to build global infrastructure spanning digital assets, securities and stablecoins."
Coinhako holds a Major Payment Institution licence approved by the Monetary Authority of Singapore and is also registered as a virtual asset service provider in the British Virgin Islands.
SBI Holdings invested in Coinhako in 2021 through a joint investment fund formed with Swiss security token bank Sygnum and Italian asset manager Azimut.
Chi-gyu Hwang
delight@d-today.co.kr