SBI to Acquire Bitbank for $289M, Creating Japan's Largest Crypto Exchange

What happened: SBI Holdings has approved the acquisition of Bitbank for approximately 46.7 billion yen (~$289 million). The deal, expected to close by October 2026 pending regulatory clearance, will combine Bitbank and SBI VC Trade, creating an entity with roughly 1.1 trillion yen (~$6.8 billion) in assets under custody and 2.92 million crypto accounts—making it Japan's largest exchange by assets. The acquisition follows SBI's launch of the JPYSC yen stablecoin and expansion into tokenized assets infrastructure.

Why it matters: This move consolidates Japan's crypto sector and positions SBI as a dominant player in digital asset trading, stablecoins, and blockchain infrastructure. The deal also signals growing institutional confidence in regulated crypto markets, as Japanese conglomerates seek scale and integration across trading, payments, and tokenization. The acquisition's scale and timing reflect a broader trend of consolidation and regulatory clarity in Japan's digital asset ecosystem.

Source: Decrypt