According to SBI Holdings’ announcement, subsidiary SBI Ventures Asset will acquire a majority stake in Coinhako, pending regulatory approval, making it a consolidated subsidiary and securing a licensed operational foothold in Singapore.
In an official announcement, SBI Holdings said it plans to acquire a majority stake in Singapore-based cryptocurrency exchange Coinhako via its subsidiary, SBI Ventures Asset. The deal is subject to regulatory approval and would make Coinhako a consolidated subsidiary, providing SBI with a licensed presence in Singapore. Financial terms were not disclosed. The structure includes a capital injection into Coinhako’s parent and the purchase of shares from existing investors, according to the company.