Japan’s financial giant SBI Holdings is planning to deepen its involvement with the digital assets sector. In a fresh development, the Tokyo-headquartered company has announced that its subsidiary SBI Ventures Asset Private Limited has filed a letter of intent to invest in the Coinhako Group as well as acquire shares in Coinhako Group
from several existing shareholders.
SBI Holdings essentially wishes to control the majority stake in the Singapore-based exchange CoinHako founded in 2014.
Once the transaction is completed, CoinHako will become a subsidiary of SBI Holdings.
“Our alignment with the SBI Group accelerates our mission to be the premier digital asset hub for Asia,” said Yusho Liu, Co-founder and CEO of the Coinhako Group.
Moving forward, SBI Holdings is looking to create tokenized stock products and stablecoin services, which it terms as “next-generation finance”.
SBI Holdings’ chairman, Yoshitaka Kitao chairman commented on the development outlining SBI’s strategic plans with CoinHako’s acquisition.
“Bringing Coinhako into the SBI Group as a consolidated subsidiary is not merely an investment in a single platform,” said Kitao. “By integrating it with the digital space ecosystem SBI Group have built, this is a solid step toward realizing the SBI Group’s strategy: expanding the global corridor for digital assets.”
Source: X/ Yoshitaka Kitao
For now, ways to wire funds into Coinhako and acquiring shares from existing shareholders remains a topic of discussion among both entities.
The development comes just after the SBI Group joined forces with Chainlink to explore DeFi services.