Crypto news

Japanese financial giant SBI Holdings has officially confirmed its intention to acquire the 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, allowing SBI Holdings to optimize the tax and legal aspects of the deal.

Transaction Details and Timeline

The deal is scheduled to close in October 2026, but this will only happen after receiving approval from Japan's antitrust regulator and fulfilling all related conditions. Upon completion of all procedures, Bitbank will become an indirect 100% subsidiary of SBI Holdings. This means full integration of the platform into the holding's ecosystem.

Market Consolidation: New Scales

According to analysts' estimates, the merger of the existing crypto exchange SBI VC Trade with Bitbank will create a powerful player. The total volume of client crypto assets under management will reach 1.1 trillion yen (approximately $6.8 billion), and the total number of accounts will exceed 2.92 million. For comparison, this places the combined entity on par with the world's largest exchanges in terms of regional presence.

My professional opinion: The purchase of Bitbank is not just an expansion, but a strategic response by SBI Holdings to tightening regulations in Japan and growing competition from global players. Consolidation allows for reduced operational costs and the creation of a unified liquid platform, which is critically important for attracting institutional investors. I expect that in the next 12-18 months, we will see a wave of similar M&A deals in the Asia-Pacific region, as the survival of mid-tier exchanges without support from large financial groups becomes increasingly unlikely.