SBI Holdings, a key Ripple partner in Japan, has acquired a controlling stake in Coinhako, a cryptocurrency exchange based in Singapore. The purchase was finalized on July 16 after receiving approval from the Monetary Authority of Singapore (MAS), marking a significant step in SBI's strategy to grow its presence in the Southeast Asian crypto market.
This acquisition means that Coinhako will now operate as a consolidated subsidiary under SBI Holdings, which could lead to enhanced services and integration between the two companies. SBI’s increased investment in Singapore reflects the region’s rising importance as a hub for crypto trading and innovation.
