SBI Holdings has signed an agreement to acquire the Japanese cryptocurrency exchange Bitbank for 46.7 billion yen ($288.6 million). The transaction will be conducted through its subsidiary, SBICAH LLC.
The deal is expected to close in October 2026, pending approval from Japan's antitrust regulator and the fulfillment of other conditions. Following the acquisition, Bitbank will become a wholly-owned subsidiary of SBI. According to the company, the combined assets of SBI VC Trade and Bitbank would manage 1.1 trillion yen ($6.8 billion) in client crypto assets and 2.92 million accounts.