Key facts
- SBI Holdings will acquire Tokyo-based crypto exchange Bitbank for approximately ¥46.7 billion ($289 million).
- The acquisition is expected to make Bitbank a wholly owned subsidiary of SBI Holdings.
- The combined entity aims to become Japan's largest crypto exchange by assets under custody.
- The deal requires regulatory approval from Japan's Fair Trade Commission.
- Completion of the transaction is anticipated around October 2026.
Japanese financial services giant SBI Holdings has agreed to acquire cryptocurrency exchange Bitbank for approximately ¥46.7 billion ($289 million). The acquisition, which will make Bitbank a wholly owned subsidiary, is part of SBI's strategy to expand its crypto business and aims to create Japan's largest crypto exchange by assets under custody and among the largest by user accounts.
The deal involves SBI purchasing shares from Bitbank's CEO, individual shareholders, and corporate shareholders MIXI Inc. and Ceres Inc. Proceeds from a new share issuance by Bitbank will be used to buy back stakes from MIXI and Ceres. The transaction is contingent upon regulatory approval, including clearance from Japan's Fair Trade Commission, with an expected closing around October 2026.
Upon completion, the combined operations are projected to manage about ¥1.1 trillion ($6.8 billion) in customer assets and serve approximately 2.92 million crypto accounts. This move signifies consolidation within Japan's digital asset sector and aligns with SBI's broader strategy to enhance its crypto trading, stablecoin development, and on-chain finance offerings.