SBI Holdings to Acquire Bitbank for $289 Million, Targeting First Place in Japan's Crypto Exchange Market

SBI Holdings has agreed to acquire Japanese cryptocurrency exchange Bitbank for 46.7 billion yen, approximately $288.6 million, through its wholly owned subsidiary SBICAH LLC. Upon completion, Bitbank will become an indirectly held, wholly owned subsidiary of SBI, with the group controlling 100% of voting rights.

A combined entity would bring SBI's total cryptocurrency customer assets to roughly 1.1 trillion yen, or about $6.8 billion, with approximately 2.92 million accounts, positioning the group as the leading crypto exchange operator in Japan by assets under management. The transaction is subject to merger clearance from Japan's Fair Trade Commission and is expected to close around October 2026.