Japan's SBI Holdings Plans to Acquire Majority Stake in Singapore Crypto CEX Coinhako

BlockBeats News, February 17: Japanese financial group SBI Holdings plans to acquire a majority stake in the Singaporean crypto CEX Coinhako to further deepen its presence in the cryptocurrency field.

The announcement stated that SBI Holdings' wholly-owned subsidiary SBI Ventures Asset has signed a letter of intent with Coinhako's parent company Holdbuild to invest in Coinhako and acquire shares from existing investors. If the transaction is completed, SBI Holdings will obtain a majority stake in Coinhako and make Coinhako its consolidated subsidiary, subject to regulatory approval.

The financial terms of the acquisition and ownership details have not been disclosed, and the investment structure and share purchase plan are still being discussed. This non-binding transaction will allow SBI to obtain a legal license in Singapore, one of Asia's major regulated cryptocurrency hubs. (Cointelegraph)