SBI Holdings Buys Out Japan's Bitbank Exchange for $289 Million

SBI Holdings has agreed to acquire all shares of cryptocurrency exchange Bitbank in a ¥46.7 billion ($289 million) transaction.

The acquisition will make the combined group Japan's largest crypto exchange operator by assets under custody, according to CryptoRank.

SBICAH, a wholly owned SBI subsidiary, will begin the transaction process around August.