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SBI Holdings invests in Singapore crypto exchange Coinhako
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Tokyo-based financial services giant SBI Holdings announced a joint investment in Coinhako, Singapore’s first licensed crypto exchange approved by the Monetary Authority of Singapore (MAS).
The Coinhako investment was made via a fund jointly set up by SBI and Swiss-based Sygnum Bank, namely, the SBI-Sygnum-Azimut Digital Asset Opportunity (DAO) Fund, according to the notice.
Speaking to Cointelegraph, a MAS spokesperson highlighted the importance of seeking licensing approvals for crypto businesses:
Coinhako became the first crypto-asset exchange from Singapore to get in-principle approval from MAS to conduct Digital Payment Token (DPT) services, the same license application that Binance withdrew on Dec. 13. In this regard, MAS spokesperson
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