SBI Holdings to acquire Bitbank for $320 million, creating Japan’s largest crypto platform
The landmark acquisition signals a new phase of consolidation in Japan’s regulated digital asset market while accelerating SBI’s ambitions in stablecoins and blockchain-based financial services.
SBI Holdings’ board approved a definitive agreement on June 25 to acquire crypto exchange Bitbank for approximately ¥46.7 billion ($320 million), a deal expected to create Japan’s largest crypto asset platform by customer assets under custody.
The deal, approved by SBI’s board on June 25, will make bitbank a wholly owned subsidiary through SBI’s investment vehicle, SBICAH GK, subject to regulatory approvals, including clearance from Japan’s Fair Trade Commission. Once completed, the acquisition is expected to create the country’s largest crypto asset platform by customer assets under custody, combining the strengths of two of Japan’s most prominent regulated digital asset businesses.
SBI said the agreement was reached with bitbank, Chief Executive Officer Noriyuki Hirosue, as well as major shareholders including MIXI, Ceres, and other investors.
The acquisition underscores SBI’s long-term strategy of expanding its digital asset ecosystem beyond cryptocurrency trading into stablecoins, tokenized finance, and blockchain-powered financial infrastructure.
Deal structured in multiple stages ahead of October completion
Rather than a single purchase, the acquisition has been designed as a multi-step transaction that will conclude later this year if all conditions are satisfied.
Under the first phase, SBICAH GK will purchase 53,704 bitbank shares from Hirosue and several existing shareholders. That transfer is expected to close around August 2026.
The second phase will see bitbank issue 48,952 new shares through a third-party allotment to SBICAH around October 2026. Following the capital injection, bitbank intends to use the proceeds to repurchase shares held by MIXI and Ceres before retiring them as treasury stock.
Once every step has been completed, SBI will indirectly control 100% of bitbank’s voting rights, making the exchange a fully owned subsidiary.
The total purchase price—including share transfers and capital contributions—is expected to reach approximately ¥46.7 billion, according to the company.
The transaction still requires approval from Japan’s competition regulator and the fulfillment of other customary closing conditions before becoming effective.
The SBI Holdings Bitbank Acquisition reflects a broader trend of consolidation sweeping through Japan’s tightly regulated cryptocurrency sector as larger financial institutions strengthen their digital asset offerings.
Following the completion of the transaction, SBI expects the combined business of SBI VC Trade and bitbank to hold approximately ¥1.1 trillion in customer assets under custody and manage roughly 2.92 million cryptocurrency accounts, based on figures recorded as of April 30, 2026.
Those numbers would position the combined entity as Japan’s largest crypto asset platform by assets under custody.
The move also follows SBI VC Trade’s merger with Bitpoint Japan earlier this year, highlighting SBI’s aggressive expansion strategy within the country’s licensed crypto exchange market.
Industry observers have viewed consolida tion as a natural progression for Japan’s crypto industry, where strict regulatory requirements have increased operating costs while encouraging stronger, well-capitalized firms to scale through acquisitions.
The SBI Holdings Bitbank Acquisition therefore represents more than a corporate takeover—it signals the continued maturation of Japan’s regulated digital asset ecosystem.
Bitbank has established itself as one of Japan’s leading cryptocurrency exchanges, offering spot trading, crypto lending, and crypto-linked payment services. Integrating those capabilities with SBI’s banking, securities, insurance, and investment businesses could significantly broaden the group’s financial services portfolio.
Security, Stablecoins and on-chain finance drive SBI’s strategy
A major factor behind the SBI Holdings Bitbank Acquisition is bitbank’s security record.
SBI noted that the exchange has maintained zero hacking incidents since its establishment, describing that achievement as an important foundation for expanding trusted digital asset services.
Security has become one of the defining competitive advantages for regulated exchanges, particularly following several high-profile hacks across the global cryptocurrency industry in recent years.
Beyond strengthening its exchange business, SBI intends to leverage bitbank’s infrastructure to accelerate growth in stablecoins and blockchain-based financial products.
Earlier this year, SBI partnered with blockchain infrastructure company Startale to launch Strium, a Layer-1 blockchain designed for tokenized securities, foreign exchange settlement, and real-world asset tokenization. The initiative also includes plans to introduce a regulated yen-denominated stablecoin issued by Shinsei Trust & Banking and distributed through SBI VC Trade.
The acquisition gives SBI another important distribution channel as it expands these next-generation financial services.
SBI has also continued integrating digital assets into mainstream consumer finance. Recently, the company collaborated with Visa on a payment card program allowing users to earn cryptocurrency rewards—including Bitcoin, Ether, and XRP—through SBI VC Trade and Aplus.
According to Yoshitaka Kitao, Chairman and CEO of SBI Holdings, the company has consistently positioned digital assets as a core pillar of its future financial strategy, emphasizing the convergence of traditional finance and blockchain technology through regulated services.
Meanwhile, bitbank said customers should experience little disruption during the ownership transition. The exchange confirmed that existing trading services, account operations, and customer support will continue without changes while regulatory approvals and transaction procedures move toward completion.
A defining moment for Japan’s digital asset industry
The SBI Holdings Bitbank Acquisition arrives as Japan continues building one of the world’s most regulated cryptocurrency markets. While some global jurisdictions remain cautious about digital assets, Japan has increasingly focused on integrating blockchain innovation within established financial regulation.
By combining SBI VC Trade, bitbank, stablecoin initiatives, and on-chain financial products under one umbrella, SBI is positioning itself to become a dominant force in the country’s evolving digital finance sector.
The SBI Holdings Bitbank Acquisition also demonstrates how traditional financial institutions are increasingly viewing cryptocurrency exchanges not simply as trading platforms, but as strategic gateways into tokenized finance, digital payments, and blockchain infrastructure.
If regulatory approvals proceed as expected, the transaction’s planned October completion could mark one of the most significant milestones in Japan’s crypto industry this year, reinforcing SBI’s ambition to lead the next phase of regulated digital asset adoption across the country.
