Acquisition Details and Timeline
SBI Group officially announced on June 25, 2026, the acquisition of Japanese cryptocurrency exchange Bitbank for ¥46.7 billion (approximately $289 million). Under the plan, a subsidiary of SBI Holdings will purchase shares from Bitbank's founders and other individual shareholders in August. Subsequently, Bitbank will acquire shares held by existing shareholders MIXI and Ceres by the end of October, enabling SBI to achieve full control.
The acquisition follows the capital and business alliance discussions initiated in May. SBI Group has been actively expanding its digital asset presence, already owning the compliant exchange SBI VC Trade. By integrating Bitbank, SBI aims to leverage synergies and strengthen its competitive position.
Market Impact: SBI Becomes Japan's Largest Crypto Exchange
After the deal closes, the combined accounts of SBI VC Trade and Bitbank (simple total as of April) will reach approximately 2.92 million, and total custody assets will be around ¥1.1 trillion (≈$6.8 billion). This surpasses bitFlyer's ¥960 billion (as of end-December 2025) and Coincheck's ¥800 billion (as of end-March 2025), making SBI the leading crypto exchange in Japan by custody assets.
The acquisition reflects an accelerating consolidation trend in Japan's crypto industry, following previous mergers between tax-filing service providers and mid-sized exchanges. As a financial giant, SBI's move reinforces its dominance in digital asset custody and trading, likely promoting compliance and economies of scale in the sector.