SBI Seals Deal for Full Control of Japanese Crypto Exchange Bitbank

SBI Holdings has signed an agreement to acquire all shares of Bitbank, making Japan's crypto exchange market more consolidated under large financial groups.

The acquisition will make Bitbank a wholly owned subsidiary of SBI Group and follows earlier talks between the two companies over a capital and business alliance.

SBI Holdings had previously expressed interest in bringing Bitbank into its group structure to leverage internal synergies and build a stronger position in Japan's crypto industry.