SBI Holdings plans to acquire a majority stake in Coinhako to deepen its cryptocurrency layout

On February 17th, Japanese financial group SBI Holdings plans to acquire a majority stake in Singapore's cryptocurrency CEX Coinhako to deepen its layout in the cryptocurrency sector. SBI Ventures Asset, a wholly-owned subsidiary of SBI Holdings, has signed a letter of intent with Holdbuild, the parent company of Coinhako, to inject capital into Coinhako and acquire shares. Upon completion of the transaction, Coinhako will become a merged subsidiary of SBI Holdings, subject to regulatory approval. The financial terms and ownership details have not been disclosed yet, and the investment structure and share purchase plan are still under discussion.