SBI Holdings Bolsters Stablecoin Ambitions with Coinhako Acquisition

SBI Holdings is expanding its digital asset infrastructure in Asia by acquiring Coinhako, a licensed cryptocurrency platform with a strong presence in Southeast Asia.

The acquisition aligns with SBI's long-term goal of establishing a 'global corridor for digital assets' that reduces friction in cross-border transactions.

Coinhako co-founder and CEO Yusho Liu noted that the platform has built trust among its clients over the past decade, operating within one of the most advanced regulatory environments worldwide.

The acquisition is expected to boost SBI's stablecoin aspirations, particularly with regards to JPYSC, a yen-denominated stablecoin introduced earlier this year. However, its limited interoperability currently restricts it to circulating only within the SBI ecosystem.