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From startup to SBI subsidiary
Coinhako is one of the few crypto platforms that was actually built in Singapore rather than localised for it. It started in 2014, when buying Bitcoin here mostly meant a bar on Boat Quay with an ATM or an overseas exchange and an international wire. Over the following decade it became the default local app for a lot of first-time buyers.
- 2014Coinhako is founded in Singapore.
- 2019An OTC desk is launched for larger trades.
- May 2022MAS grants a Major Payment Institution licence for digital payment token services, number PS20200556.
- Feb 2026SBI Holdings agrees, through its Singapore subsidiary SBI Ventures Asset, to invest in and buy shares of Coinhako’s parent, Holdbuild Pte. Ltd., subject to approval.
- Jul 2026With MAS approval, the deal completes and Coinhako becomes a consolidated SBI subsidiary. The licensed entity now appears on the MAS register as SBI Coinhako Technology.
For customers, the acquisition has not changed the app, the brand or the licence. SBI has said it wants to link Coinhako with its regional network, including its yen stablecoin plans. Whether that brings new products or lower fees in Singapore is not yet clear, and we will update this review when it does.
Our verdict
- Licence
- MAS MPI for DPT services, PS20200556 (since May 2022)
- Entity on MAS register
- SBI Coinhako Technology
- Owner
- SBI Holdings (majority, since Jul 2026)
- SGD funding
- PayNow, FAST, GrabPay, debit card
- SGD spot fee
- 0.6%; recurring buys 0.5%; USD stablecoin pairs 0%
- SGD withdrawal
- S$2 flat (third-party data)
- Coins
- 130+ reported; not confirmed on an official page
- Best for
- Beginners who want a local app, PayNow and GrabPay
Coinhako is a solid, safe-feeling choice for someone buying their first few hundred dollars of Bitcoin or Ether. It is local, licensed, now backed by a large listed financial group, and it accepts the payment methods Singaporeans already use. Where it loses ground is price. A flat 0.6% on every SGD trade is fine for small, occasional buys but becomes noticeable once you are buying thousands of dollars a month.
Coinhako fees
Coinhako does not run a public order book for retail users in the way OKX or Independent Reserve do. You get a quoted price, and the fee is applied on top. Third-party fee guides note that prices come from external liquidity providers, so part of the cost sits in the quote rather than in the fee line. The trading fees below are the ones Coinhako publishes in its App Store listing.
| What you do | Fee | Source |
|---|---|---|
| Buy or sell with SGD (spot) | 0.6% | Official store listing |
| SGD recurring buy | 0.5% | Official store listing |
| Crypto-to-crypto pair | 0.6% | Official store listing |
| USD stablecoin trades | 0% | Official store listing |
| OTC trades | 0% (priced in quote) | Official store listing |
| PayNow or FAST deposit | Free | Third-party guide |
| GrabPay funding | 2.8% | Third-party guide |
| SGD withdrawal | S$2 | Third-party guide |
A quick example. Buy S$1,000 of Bitcoin by PayNow and you pay about S$6 in fees, plus whatever spread sits in the quote. Fund the same purchase with GrabPay and the funding fee alone is about S$28. On an order-book platform with free PayNow, the same S$1,000 limit order costs closer to S$1 to S$5. The cheapest way to buy Bitcoin guide runs that comparison across platforms.
The 0% USD stablecoin pairs are a useful detail. If you hold USDC or USDT and want to swap between them, Coinhako does not charge a trading fee on those pairs.
Recurring buys
The 0.5% recurring-buy rate is Coinhako’s most competitive retail price, and it is how many users accumulate Bitcoin monthly. It removes the temptation to time the market and costs less than buying by hand. Use the planner below to see what the fee adds up to over two years. Set the fee to 0.5% for Coinhako and compare it with 0.1% for an order-book platform.
Recurring buy (DCA) planner
…This shows the arithmetic of fees, not a forecast. Prices move and past performance tells you nothing about future returns.
Our recurring buy guide explains how to set a monthly plan sensibly, and why the fee matters more the longer you keep going.
PayNow, FAST and GrabPay
Coinhako supports the SGD rails you would expect from a licensed local app. PayNow is the quickest for most people: you get a reference, pay from your banking app, and the money usually lands within minutes. FAST works the same way from any participating bank. Both are described as free by third-party fee guides.
GrabPay is the distinctive one. Very few crypto platforms accept it, and it suits people who already keep a GrabPay balance. It is also expensive at a reported 2.8%, so use it for small top-ups rather than your main purchases. Debit cards are accepted too. Locally issued credit cards are not, because MAS rules prohibit licensed platforms from taking them.
Withdrawals to your bank go out in SGD, with a reported flat S$2 fee. For a wider look at deposit times and limits across platforms, see buying crypto with PayNow.
Larger buyers can use Coinhako’s OTC desk, launched in 2019. It has historically quoted a minimum of around US$250,000, but we could not confirm the current threshold. If you are in that range, compare quotes from more than one desk; our OTC guide lists the licensed options.
Start small, wherever you buy
Open an account, pass the risk awareness check and try one small purchase before setting up anything recurring.
Pros and cons
What we like
- Singapore-born, with a MAS licence since 2022
- Now backed by SBI Holdings, a large listed Japanese financial group
- PayNow and FAST funding, plus GrabPay and debit cards
- Lower 0.5% rate on recurring buys
- No trading fee on USD stablecoin pairs
- OTC desk for large orders
Watch out for
- 0.6% per SGD trade is several times what order-book platforms charge
- Part of the cost sits in the quoted price, not only in the fee line
- GrabPay funding is expensive
- No current, official coin count we could confirm
- App-store complaints about repeat verification checks and slowdowns at busy times
On that last point: Coinhako’s Singapore App Store listing shows a 4.3 out of 5 rating from about 3,900 ratings as of October 2026. The critical reviews we read mention repeated selfie verification requests on already-verified accounts, the app struggling during market spikes, withdrawal caps one reviewer found too low, and support tickets passed between departments. Others praise quick support replies. We could not confirm a pattern of locked accounts from the reviews we saw, but repeat verification is common on licensed platforms, because anti-money-laundering rules require it when activity changes.
Licence and safety
As a Major Payment Institution, Coinhako must follow MAS rules on anti-money-laundering controls, technology risk and customer asset protection. Since the consumer measures announced in November 2023 phased in, that includes holding customer digital tokens in a statutory trust, separate from the company’s own assets, and not lending or staking retail customers’ tokens. It also means the risk awareness assessment you take before your first trade, and restrictions on incentives to trade.
What the SBI deal changes, and what it does not
The licence belongs to the Singapore operating company, not to its shareholders, so MAS rules apply to Coinhako in the same way as before. A large owner can add financial strength, but it is not a guarantee of your assets. Crypto on any exchange is not covered by deposit insurance.
Practical habits matter more than any licence. Use an authenticator app, never share your screen while logged in, and remember that Coinhako staff will not contact you on WhatsApp or Telegram asking you to move funds. Our scams guide explains the common patterns in Singapore.
Who it suits
Choose Coinhako if you want a Singapore company with a Singapore licence, you are buying modest amounts, you like the idea of a monthly plan, or you want to fund from GrabPay now and then. It is also a reasonable place for an older relative to start, because the app is straightforward and the support is local.
Look elsewhere if you are cost-sensitive and buying in larger amounts, you want limit orders on a visible order book, or you are after niche tokens. In those cases an order-book platform, or an international exchange with a longer coin list, will fit better.
Alternatives
The closest alternatives, each with its own review:
- Independent Reserve: also MAS-licensed, with a clear fee ladder starting at 0.50% and PayNow up to S$200,000 per deposit.
- OKX SG: free PayNow and FAST and much lower order-book fees.
- Coinbase: another beginner-friendly licensed app, with XSGD access.
- CEX.IO: not licensed by MAS, but accepts cards and Apple Pay and lists far more coins.
See every platform side by side on our exchange comparison, or check the full list of MAS-licensed crypto exchanges.
Frequently asked questions
Is Coinhako licensed by MAS?
Yes. Coinhako’s operating company received a Major Payment Institution licence for digital payment token services in May 2022, licence number PS20200556. In the MAS Financial Institutions Directory it now appears as SBI Coinhako Technology.
Who owns Coinhako now?
Japan’s SBI Holdings. Its Singapore subsidiary, SBI Ventures Asset, completed a majority acquisition of Coinhako’s parent company in July 2026 after MAS approval. Coinhako keeps its brand, app and Singapore licence.
What are Coinhako’s fees?
According to the app’s official store listing: 0.6% on SGD spot trades, 0.5% on SGD recurring buys, 0.6% on crypto-pair trades and 0% on USD stablecoin trades. Third-party fee guides report a flat S$2 SGD withdrawal fee and 2.8% for GrabPay funding. Prices are quoted from liquidity providers, so check the final amount on the order screen.
Can I use PayNow on Coinhako?
Yes. Coinhako supports SGD deposits by PayNow and FAST, which third-party fee guides describe as free. GrabPay and debit cards are also accepted, at a higher cost.
How many coins does Coinhako support?
Coinhako is commonly listed with more than 130 assets, but we could not confirm a current number on an official page. The store listing names Bitcoin, Ether, SOL, MATIC and AVAX among “many other cryptocurrencies”. Check the in-app market list for a specific token.
Is Coinhako good for beginners?
It is one of the easier local apps to start with: Singapore-based support, SGD funding by PayNow, a simple buy screen and recurring buys. The trade-off is cost. At 0.6% per SGD trade it is more expensive than order-book platforms such as OKX SG or Independent Reserve.
