SBI Holdings Completes Coinhako Acquisition, Adding Singapore to Its Solana Finance Network

SBI Holdings completed its majority acquisition of Coinhako on July 17, adding the Singapore exchange and its 480,000-plus users to a digital asset network SBI has been building on Solana since early June.

The deal was executed through SBI Ventures Asset, which acquired majority control of Holdbuild Pte. (Coinhako's parent) alongside a stake in Alpha Hako Ltd., the platform's British Virgin Islands-registered crypto services affiliate. Hako Technology Pte. Ltd., the Singapore operating entity within the Holdbuild group, holds a Major Payment Institution licence from the Monetary Authority of Singapore. Coinhako, founded in 2014, handles trading in more than 200 digital assets.

Singapore as the Regulated Gateway

SBI Chairman Yoshitaka Kitao pointed to Singapore's regulatory environment as central to the deal's logic. "Singapore, where regulations related to digital assets are ahead of the curve, is a crucial region in this regard," Kitao said. SBI plans to extend JPYSC, its yen-backed stablecoin, to Coinhako customers and develop tokenized asset and cross-border settlement services through the platform.

The Coinhako close arrived four days after SBI announced that its blockchain joint venture, formerly SBI R3 Japan, would be renamed SBI Solana Global, with the Solana Foundation acquiring an equity stake alongside SBI Holdings and Sumitomo Mitsui Financial Group. The Solana Foundation becomes the first public blockchain foundation to hold equity in a regulated venture with a Japanese megabank group. Financial terms were not disclosed.

SBI Solana Global: JPYSC, Bonds, and Cross-Border Settlement

SBI Solana Global targets four areas: stablecoin issuance and distribution; RWA tokenization covering corporate bonds, commercial paper, real estate, and investment funds; cross-border settlement connecting Japanese financial assets with global liquidity; and payment infrastructure for AI agents. The venture marks a departure from the private-chain model its predecessor operated under. Corda, R3's permissioned ledger, is giving way to Solana's public infrastructure, a shift SBI and the Solana Foundation describe as enabling Japan's institutional capital base to connect with global settlement networks rather than remain within closed systems.

Individual product timelines have not been announced.

JX Token: First Japanese Equity Strategy Tokenized on Solana

The day after the SBI Solana Global announcement, on July 14, SBI Global Asset Management and DigiFT launched JX on Solana through their joint venture SBI Onchain. JX is Japan's first listed-equity strategy from a major asset manager to tokenize on a public blockchain. Accredited and institutional investors gain exposure to a Japanese high-dividend equity portfolio managed by SBI Asset Management Co., Ltd., per CryptoBriefing. It targets capital appreciation and pays no distributions at fund or token level, operating under Singapore's Securities and Futures Act.

JX gives SBI's Solana network its first live institutional product. Solana's tokenized equity outstanding value reached a $535M all-time high on July 16, one day after the chain crossed 300,000 RWA holders to lead all blockchains.

SBI's Six-Week Acquisition Sprint

The Coinhako close is the most recent in a sequence of moves SBI has made since early June. The group acquired Bitbank, Japan's largest domestic crypto exchange by volume, for approximately $289 million per CoinDesk, with that transaction targeted to close in October 2026. SBI also led a $76 million Series C for EDX Markets, the U.S. institutional exchange, per CoinDesk. SBI Holdings manages more than $308 billion in assets across more than 14 million customer accounts, per CoinDesk.

Kitao has described the objective as building "a global corridor for digital assets by connecting exchanges around the world." With Coinhako, SBI now holds licensed exchange infrastructure in Japan, the United States, and Singapore, all of it oriented around Solana for settlement, tokenization, and cross-border asset movement.