BlockBeats News, February 17 — Japanese financial group SBI Holdings plans to acquire a majority stake in Singapore-based crypto CEX Coinhako to further deepen its presence in the cryptocurrency sector.
The announcement states that SBI Holdings’ wholly owned subsidiary SBI Ventures Asset has signed a letter of intent with Coinhako’s parent company Holdbuild, intending to invest in Coinhako and acquire shares from existing investors. If the transaction is completed, SBI Holdings will obtain a majority stake in Coinhako and make Coinhako a consolidated subsidiary, but the deal is still subject to regulatory approval.
Financial terms and ownership details of the acquisition have not been disclosed, and the investment structure and share purchase plan are still under discussion. This non-binding deal will enable SBI to obtain a legal license in Singapore, which is one of Asia’s major regulated cryptocurrency hubs. (Cointelegraph)
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