Coinhako is a Singapore-based digital asset platform founded in 2014 by Singaporean entrepreneurs Yusho Liu and Gerry Eng. The company is committed to providing convenient and secure cryptocurrency trading and wallet services for users in Asia, aiming to promote the development of the crypto economy in the region.
Products & Services
Coinhako offers the following main services: Cryptocurrency
Trading: Supports the buying and selling of multiple cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, etc.
Fiat trading pairs: Users are allowed to trade with Singapore Dollar (SGD) and US Dollar (USD).
Multiple payment methods: including PayNow, bank transfer, Visa/Mastercard payment, etc., to make it easy for users to top up and withdraw cash.
Cryptocurrency exchange: Provide exchange services between cryptocurrencies to meet the diverse transaction needs of users.
Mobile app: Coinhako offers mobile apps for iOS and Android, making it easy for users to trade and manage assets on the go.
Market Positioning & Development
Coinhako mainly caters to the Asian market, especially individual users and institutional customers in Singapore and Southeast Asia. The company has lowered the barrier to entry for cryptocurrency trading with a simplified user interface and diversified payment methods, attracting a large number of new users. As of 2023, Coinhako's annual revenue is around S$8.69 million.
Regulation & Compliance
Coinhako received a Master Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) in May 2022, allowing it to provide digital payment token services in Singapore.
The company adheres to Singapore's Payment Services Act and implements strict Anti-Money Laundering (AML) and Know Your Customer (KYC) policies. In addition, Coinhako also follows international sanctions lists that prohibit transactions with sanctioned countries and individuals.
Investment & Financing
Coinhako has completed multiple rounds of funding for a total of $10 million. Major investors include Boost VC, SBI Group, Peak, Mirana, and others. The latest round of funding was a Series B round in May 2022 with a funding amount of $10 million.
Conclusion
Coinhako is an influential digital asset platform in the Asian market, catering to the needs of different users with its diverse products and services. The company has excelled in regulatory compliance and has been authorized by the Monetary Authority of Singapore, which has strengthened the trust of users. However, users should be aware that their services are primarily intended for the Asian market, and users in other regions may face certain access restrictions or service differences.
