SBI Holdings has reached an agreement to purchase the Japanese cryptocurrency exchange Bitbank for 46.7 billion yen, equivalent to $288.6 million. This acquisition will be executed through SBICAH LLC, a subsidiary of SBI.
The transaction is anticipated to finalize in October 2026, subject to approval from Japan's antitrust authorities and other necessary conditions. Once completed, Bitbank will operate as a wholly-owned subsidiary of SBI. The merger is projected to consolidate the assets of SBI VC Trade and Bitbank, totaling 1.1 trillion yen, or about $6.8 billion, across 2.92 million client accounts.
