SBI Holdings to acquire Bitbank, creating top crypto exchange

SBI Holdings will acquire Bitbank for $289M, making it a subsidiary. The deal, pending regulatory approval, will create Japan’s largest crypto exchange, managing over $6.8B in assets.

SBI Holdings has entered into agreements to acquire Japanese cryptocurrency exchange Bitbank for approximately 46.7 billion yen ($289 million). The acquisition will be executed through SBI’s subsidiary, SBICAH, making Bitbank a wholly owned subsidiary. The transaction involves purchasing shares from Bitbank’s founders, individual shareholders, and corporate entities such as MIXI and CERES. Share transfers are expected to be completed between August and October 2026, subject to approval from the Japan Fair Trade Commission. This move aligns with SBI’s strategy to strengthen its presence in Japan’s regulated digital asset market, broaden its product offerings, and create synergies across its crypto businesses. The combined entity is projected to manage crypto assets exceeding 1.1 trillion yen (about $6.8 billion) and serve nearly 2.92 million accounts. Bitbank’s current operations and customer services are expected to remain unchanged during the transition, positioning SBI as a dominant player in Japan’s crypto exchange sector.