SBI Holdings Acquires Bitbank for $289 Million to Create Japan’s Largest Crypto Exchange

• SBI Holdings has signed agreements to acquire crypto exchange Bitbank for ¥46.7 billion (approximately $289 million), making it a wholly owned subsidiary.
• The deal, expected to close around October 2026 pending regulatory approval, will create Japan’s largest crypto platform by assets under custody with roughly ¥1.1 trillion ($6.8 billion) and 2.92 million accounts.
• Bitbank brings a strong security track record with zero hacking incidents since 2014, complementing SBI’s existing SBI VC Trade operations.

Japanese financial giant SBI Holdings is doubling down on crypto with the acquisition of major domestic exchange Bitbank, a move that underscores ongoing consolidation in Japan’s tightly regulated digital asset market amid broader market volatility.

Announced on June 25, 2026, the transaction involves SBI acquiring Bitbank shares through its wholly owned subsidiary SBICAH GK. The structure includes a share transfer from founder and CEO Noriyuki Hirosue and other individuals, followed by a capital increase and treasury share acquisitions from existing shareholders MIXI and CERES. Upon completion, Bitbank will become an indirectly wholly owned subsidiary with 100% voting rights held by SBI.

According to SBI’s official announcement, a simple aggregation of figures from SBI VC Trade and Bitbank as of April 30, 2026, positions the combined entity with approximately ¥1.1 trillion ($6.8 billion) in crypto assets under custody and 2.92 million accounts, ranking it first in assets under management among domestic providers.

The acquisition builds on earlier discussions announced in May and aligns with SBI’s strategy to expand its crypto business, including synergies in trading services, stablecoins, and on-chain finance. Bitbank, founded in 2014, operates under the vision of an “open and fair society” and has maintained a clean security record, which SBI highlighted as a key complementary strength.

“By welcoming Bitbank into the Company Group, the Company Group will seek to mutually utilize the customer bases, service development capabilities, security and compliance frameworks, and management resources of both companies,” SBI stated in the release.

This deal comes as Japan continues to refine its crypto regulatory framework, potentially boosting institutional confidence in domestic platforms. The timing coincides with a broader market sell-off, where Bitcoin briefly dipped below $59,000 amid macro pressures, highlighting the resilience of regulated players like SBI in navigating volatility.

Financial impact on SBI’s consolidated results for the fiscal year ending March 31, 2027, is expected to be minor. The transaction remains subject to Japan Fair Trade Commission clearance and other conditions.

Industry observers see the move as accelerating consolidation, positioning SBI to better compete and innovate in areas like stablecoin services and expanded product offerings for retail and institutional users alike.

Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.

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