SBI Holdings signs letter of intent to acquire stake in Coinhako

Uk Jin

Summary

SBI Holdings said it signed a letter of intent with Holdbuild, Coinhako’s parent company, via its subsidiary SBI Ventures Asset, for an equity acquisition and capital investment.
It said that once the transaction is completed, SBI Holdings will secure a majority stake in Coinhako and consolidate it as a subsidiary.
Chairman Yoshitaka Kitao said the deal is part of a strategy to build international infrastructure for digital assets, including tokenized securities and stablecoins, and added that the investment amount and equity structure were not disclosed.

Japan’s SBI Holdings appears to be moving in earnest to acquire Coinhako, a Singapore-based virtual asset (cryptocurrency) exchange.

According to Cointelegraph, a digital-asset news outlet, SBI Holdings said on the 17th (Korea time) that it had signed a letter of intent (LOI) with Holdbuild, Coinhako’s parent company, via its subsidiary SBI Ventures Asset, to acquire an equity stake and make a capital investment.

Once the transaction is completed, SBI Holdings will secure a majority stake in Coinhako and consolidate it as a subsidiary.

Yoshitaka Kitao, chairman and chief executive officer (CEO) of SBI Holdings, said the deal is “part of a strategy to build international infrastructure for digital assets, including tokenized securities and stablecoins, beyond simply investing in a single platform.”

Specific details such as the investment amount and equity structure were not disclosed.