The Japanese firm has announced the acquisition of Coinhako, a Singapore-based crypto platform, as part of its aggressive regional growth strategy, which also includes a collaboration with Ondo Finance for tokenization.
By Olivier Acuna|Edited by Jamie Crawley Jul 17, 2026, 1:46 p.m. 3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SBI recently made three significant moves in the crypto and blockchain space, including partnerships with Solana and Ondo Finance. (Chris 73/Wikimedia Commons)SummaryShow- Japan’s SBI Group has acquired a controlling interest in Coinhako, a crypto exchange based in Singapore, as part of a broader strategy to create a comprehensive digital asset corridor in Asia.
- The company aims to extend its reach in the digital asset sector through alliances with Ondo Finance and the Solana Foundation, focusing on tokenization of real-world assets and yen-based on-chain settlement using its JPYSC stablecoin, which currently cannot be transferred to external wallets.
- Recent acquisitions, such as the planned purchase of Tokyo's Bitbank and investments in EDX Markets and Gauntlet, demonstrate SBI’s commitment to overseeing the entire digital asset ecosystem rather than merely pursuing short-term market trends.
SBI Group has taken a majority stake in Coinhako, a Singapore-based cryptocurrency platform, according to an announcement made by the Japanese financial services conglomerate on Friday. Coinhako is licensed as a Major Payment Institution by the Monetary Authority of Singapore (MAS) and operates within Singapore, SBI noted.
Yoshitaka Kitao, CEO of SBI Holdings, stated, "The SBI Group aims to create a global digital asset corridor by linking exchanges worldwide," emphasizing the company's ambition to connect financial markets.
This acquisition is part of SBI’s collaboration with Ondo Finance, announced Thursday, to tokenize Japanese equities and other assets utilizing its JPYSC stablecoin for settlement purposes.
Additionally, SBI has partnered with the Solana Foundation, which will acquire an equity stake in SBI R3 Japan, set to be renamed SBI Solana Global. This new entity will focus on issuing stablecoins and tokenizing physical assets like corporate bonds and real estate.
The firm’s strategy is designed to bridge traditional finance with blockchain technology.
Leading the Way in Asia
“SBI is the first financial group in Asia to pursue the complete digital asset value chain simultaneously, encompassing issuance, settlement, trading infrastructure, asset management, and retail distribution across the region,” remarked Joseph Goh, director and head of Asia Pacific at crypto investment banking and advisory firm Areta, in a statement to CoinDesk.
Goh added, “The key opportunity lies in yen-based on-chain settlement, positioning SBI strategically for the future of Asian finance over the next decade.”
However, there is a current limitation with JPYSC, as it does not allow withdrawals to external wallets.
A company representative noted, "Currently, JPYSC can only be used within accounts at SBI VC Trade, and it does not yet permit transfers to external wallets or remittances and settlements on public blockchains."
This restriction currently confines JPYSC's application to SBI's platform, preventing investors from utilizing it for transactions outside the exchange or on public blockchains.
Sota Watanabe, CEO of Startale Group, which collaborates with SBI Holdings on JPYSC, stated that the firm's ongoing investment in digital assets reflects a growing institutional confidence in blockchain technology.
Watanabe commented, "SBI Holdings' persistent commitment to digital assets likely indicates a belief in the future structure of global finance," noting that blockchain is increasingly regarded as a foundational financial infrastructure rather than just an emerging technology. He also pointed out that Japan is well-placed to take a leading role in this sector due to its regulatory environment and established financial institutions.
SBI's Growth Initiatives
SBI agreed to acquire Bitbank, a Tokyo-based cryptocurrency exchange, for approximately $289 million in June, with the deal expected to finalize in October, pending regulatory approval. This follows SBI's prior acquisition of Bitpoint in 2022. The firm also led a $76 million Series C funding round for EDX Markets, an institutional exchange, and a $25 million Series C funding for Gauntlet, a crypto risk management firm, according to company representatives.
SBI indicated that these investments form part of its strategy to develop a comprehensive digital asset business that spans exchanges, tokenization, stablecoins, and blockchain infrastructure across Asia.
The firm emphasizes its investment approach is focused on long-term infrastructure development rather than short-lived market trends.
In light of the increasing adoption of cryptocurrency ETFs in the U.S., SBI anticipates that greater institutional investor participation will enhance liquidity, market credibility, and risk management standards, which in turn will foster retail participation, creating a mutually beneficial environment, according to company representatives.
They clarified that SBI's investments and expansion efforts are not influenced by transient market sentiments.
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Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
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