Japanese financial giant SBI Holdings signed a definitive agreement on Thursday to acquire crypto exchange Bitbank for ¥46.7 billion ($288 million). The deal, executed through wholly-owned subsidiary SBICAH LLC, will make Bitbank an indirect wholly-owned unit fully controlled by SBI.
The acquisition is subject to clearance from the Japan Fair Trade Commission and is expected to close in October 2026.
Synergy Targets: Stablecoins and Digital Asset Innovation
SBI plans to combine Bitbank's customer base, service development capabilities, and compliance systems with its own. The combined entity will manage an estimated ¥1.1 trillion ($6.8 billion) in customer crypto assets and serve 2.92 million accounts, making it Japan's largest crypto exchange by assets under management.
Ten-Year Hack-Free Record Paves Way for Deal
Bitbank boasts no security breaches since its inception, earning strong market trust. SBI had confirmed negotiations in May 2026; the signed agreement now marks the final stage of the takeover.