SBI Secures Dominance in Japan's Crypto Market with $289M Bitbank Acquisition

SBI Holdings is making a significant move in the Japanese cryptocurrency market by acquiring Bitbank, one of Japan's largest exchanges. The deal will see SBI pay approximately $289 million to purchase shares from various stakeholders, including founders and corporate entities.

The acquisition will be executed through SBICAH GK, a wholly-owned subsidiary of SBI. The company plans to purchase the remaining shares by late October 2026, with individual shareholders targeted for August 2026.

Once the deal is completed, the combined entity's custody services are expected to manage around $7 billion in assets across nearly 3 million accounts. This will make SBI one of the largest crypto exchange operators in Japan.