SBI Holdings is moving to acquire Bitbank in a major deal that could create Japan’s largest regulated crypto exchange group.
Key Takeaways
- SBI Holdings will acquire Bitbank in a deal valued at 46.7 billion yen, or about $288.6 million.
- The deal could lift SBI’s combined crypto customer assets to about 1.1 trillion yen and accounts to around 2.92 million.
- Bitbank will become a wholly owned SBI subsidiary if the deal clears Japan’s Fair Trade Commission review.
- The acquisition strengthens SBI’s position in Japan as crypto regulation grows tighter and larger financial groups gain an edge.
What Happened?
SBI Holdings has signed agreements to acquire Japanese crypto exchange Bitbank through its investment arm, SBICAH GK. The transaction is expected to close around October 2026, subject to approval from the Japan Fair Trade Commission and other closing conditions.
The deal will be completed in stages, with SBI first buying shares from Bitbank founders and individual shareholders around August 2026. Bitbank will then buy shares held by corporate shareholders including MIXI and Ceres by the end of October.
JUST IN: 🇯🇵 Financial giant SBI Holdings agrees to buy Japanese Bitcoin exchange ‘Bitbank’ for $288 million 👀 pic.twitter.com/qhBB9BHzYq
— Bitcoin Magazine (@BitcoinMagazine) June 25, 2026
SBI Moves to Build Japan’s Biggest Crypto Exchange Group
The acquisition marks one of the biggest consolidation moves in Japan’s regulated crypto market. SBI already operates SBI VC Trade, and the Bitbank purchase would give the group a much larger exchange footprint.
Based on figures from April 30, 2026, SBI said the combined business would hold about 1.1 trillion yen in assets under custody and around 2.92 million crypto asset accounts.
That scale could put SBI ahead of major Japanese crypto platforms such as bitFlyer and Coincheck by customer assets. SBI said the combined group is expected to rank first among domestic crypto asset exchange service providers by assets under custody and among the top firms by account count.
Bitbank Adds Scale, Trust, and Trading Infrastructure
Bitbank began operations in May 2014 and has grown into one of Japan’s better known crypto exchanges. One of its strongest selling points is its security record. SBI said Bitbank has had zero hacking incidents since launch.
The exchange has also seen its financial performance move with market conditions. Net sales rose from 3.86 billion yen in 2023 to 7.95 billion yen in 2024, before falling to 5.82 billion yen in 2025. Operating income also shifted, moving from a 2.80 billion yen profit in 2024 to a 970 million yen loss in 2025.
For SBI, Bitbank brings a recognized brand, existing users, trading infrastructure, compliance systems, and service development resources. The company plans to combine those strengths with SBI VC Trade and its broader financial network.
Deal Still Needs Regulatory Clearance
The transaction is not complete yet. It still needs clearance from the Japan Fair Trade Commission, along with other standard closing conditions.
If approved, Bitbank will become an indirect wholly owned subsidiary of SBI Holdings. SBI will gain full voting control through SBICAH GK, its wholly owned crypto asset investment subsidiary.
Bitbank has told users that the acquisition will not affect current services. Customers are expected to continue trading and using the platform without disruption during the ownership transfer.
SBI Eyes Stablecoins and On Chain Finance
The Bitbank deal also fits into SBI’s wider digital asset strategy. The group has already been active in crypto trading, custody, blockchain finance, and projects linked to Ripple.
SBI has also pointed to stablecoins, crypto linked payments, and on chain finance as future growth areas. The company recently launched JPYSC, a trust bank backed yen stablecoin, and has also supported crypto rewards through SBI VC Trade.
Japan’s crypto industry is also entering a period of possible regulatory change. Authorities have been examining whether digital assets should be brought under the Financial Instruments and Exchange Act, a move that could create tougher compliance demands for crypto firms.
In that environment, SBI’s size may become a major advantage. Larger firms with capital, banking links, compliance teams, and licensed platforms may be better placed to compete as the market matures.
CoinLaw’s Takeaway
In my experience, this deal is not just about SBI buying another exchange. It looks like a clear signal that Japan’s crypto market is moving from a fragmented exchange scene into a more mature financial industry led by larger, regulated players.
I found SBI’s timing especially important. By acquiring Bitbank now, SBI is not only gaining users and assets, it is also preparing for a future where compliance, custody, stablecoins, and institutional trust matter much more than short term trading volume.
For users, the key question will be whether this larger SBI-backed platform can keep Bitbank’s strong security record while improving product access and liquidity. If it can, this could become one of the most important crypto deals in Japan’s market history.
