SBI Doubles Down on Crypto with Bitbank Acquisition Deal

SBI Holdings, a Japanese internet-based financial conglomerate, has made its move to acquire Bitbank, one of Japan's cryptocurrency exchanges. The company plans to buy out 100% ownership of Bitbank through its subsidiary SBICAH GK.

The acquisition is subject to regulatory approvals, including review by the Japan Fair Trade Commission. SBI Holdings aims to strengthen its business foundation and expand product offerings through this deal.

Bitbank has maintained a record of no hacking incidents since its founding, contributing to customer trust and its position in Japan's crypto market.