Blockchain Report on Nostr: SBI Holdings, a prominent Japanese financial group, has secured approval from the ...

SBI Holdings, a prominent Japanese financial group, has secured approval from the Monetary Authority of Singapore (MAS) to acquire a controlling stake in Singapore-based crypto asset platform Coinhako. The acquisition, completed on July 16th through capital injection and the purchase of existing shareholder shares, grants SBI Holdings a majority ownership in Holdbuild, Coinhako's parent company. The financial terms of the transaction have not been disclosed. Coinhako's subsidiary, Hako Technology, holds a Major Payment Institution license from the MAS. SBI Holdings intends to integrate Coinhako's customer base and regional network, exploring potential synergies in areas such as JPY stablecoin (JPYSC), tokenization, on-chain finance, and cross-border transactions.

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