Crypto news

Japanese financial giant SBI Holdings has officially announced the signing of an agreement to acquire the local cryptocurrency exchange Bitbank. The transaction amount is 46.7 billion yen, equivalent to approximately $288.6 million. The purchase will be carried out through its subsidiary SBICAH LLC.

The transaction closing is scheduled for October 2026. However, this deadline is not final — it directly depends on receiving approval from Japan's antitrust regulator, as well as fulfilling a number of other mandatory conditions. After all procedures are completed, Bitbank will become an indirect 100% subsidiary of SBI Holdings.

The strategic rationale for this purchase is clear: market consolidation. Currently, SBI already owns its own crypto exchange, SBI VC Trade. According to the company's internal estimates, merging the assets of SBI VC Trade and Bitbank will allow it to manage client crypto assets worth approximately 1.1 trillion yen (about $6.8 billion). Additionally, the combined client base of the two platforms will reach an impressive 2.92 million registered accounts.

This acquisition is not just a financial transaction but a clear signal to the market. SBI Holdings, one of the most influential players in Japan's financial sector, continues to actively expand its presence in the cryptocurrency ecosystem. The purchase of Bitbank, one of the oldest and most respected exchanges in Japan, underscores the long-term confidence of major capital in digital assets, despite regulatory complexities and market volatility.

Expert commentary: Such consolidation is a natural stage in the development of any maturing market. Merging two major platforms under SBI's wing will not only increase liquidity and reduce operational costs but also create a stronger competitor to international giants. Amid tightening regulation in Japan, only those with sufficient resilience and institutional support will be able to survive and thrive. This move by SBI is a clear testament to that.