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Coinhako

“Can a MAS-licensed crypto exchange become the dominant regulated on/off-ramp and digital asset platform for Southeast Asian retail and institutional investors?”

Founded2014
HQSingapore
FoundersYusho Liu, Gerry Eng
Total raised$10.0M
Latest roundunknown
IndustryFintech / Crypto
The story

Founded in 2014 as one of Singapore's earliest retail crypto exchanges, Coinhako evolved from a basic Bitcoin buy/sell platform into a multi-asset trading and wallet platform serving retail, high-net-worth, and institutional clients across Southeast Asia. A key inflection point came in 2021 when it became the first non-bank crypto platform in Singapore to receive MAS in-principle approval under the Payment Services Act, unlocking regulated DPT and cross-border remittance services. The company layered embedded fiat wallet infrastructure via MatchMove and acquired SOC 2 certification to position itself as an institutional-grade venue. It now operates as a MAS-licensed Major Payment Institution with a focus on crypto on/off-ramp services.

Last 12 months
—
Product timeline
2014
Founded in Singapore by Yusho Liu and Gerry Eng as a cryptocurrency exchange and wallet platform focused on Southeast Asia.· pivot
2021
Received in-principle approval from MAS to offer Digital Payment Token (DPT) services under the Payment Services Act — becoming the first local non-bank crypto platform to do so.· banking
2021
Partnered with MatchMove to power a 'Superwallet' offering fiat collection and pay-out services for users via the MoveFast product.· banking
2022
Migrated infrastructure to AWS for compliance support and high availability, enabling scalability for its regulated crypto exchange operations.· pivot
2023
Achieved SOC 2 certification, signalling enterprise-grade security posture for institutional clients.· banking
Regulated entities
1
regulatory licence held by Coinhako
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in Coinhako’s embedded-finance stack
Payments / PSP
Checkout.comMatchMove
Banking / BaaS
in the full report
FX & payouts
in the full report
Crypto
in the full report
Accounting gap: minor
3 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.