SBI Holdings acquires Bitbank for $288.6 million: a new era for the Japanese crypto industry
Japanese financial giant SBI Holdings has officially signed an agreement to acquire local crypto 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 deal is expected to close in October 2026, but only after receiving approval from Japan's antitrust regulator and meeting a number of other conditions. Once all formalities are completed, Bitbank will become an indirect 100% subsidiary of SBI Holdings.
This acquisition will significantly strengthen SBI's position in the digital asset market. According to the company's estimates, the combined platform, including SBI VC Trade and Bitbank, will manage client assets worth approximately 1.1 trillion yen ($6.8 billion) and serve 2.92 million accounts. This concentration of resources makes the new player one of the largest crypto exchange operators in Japan.
Analytical commentary: This deal is a clear indicator of the maturity of the Japanese crypto market. SBI Holdings, which already owns its own exchange SBI VC Trade, is clearly aiming to consolidate assets and create a dominant infrastructure for digital currency trading. Amid tightening regulations and growing competition from global players, such mergers are becoming strategically necessary. I expect that over the next two to three years, we will see a wave of similar M&A deals in the Asia-Pacific region, as major financial groups seek to capture market share before it becomes fully institutionalized.