SBI to Acquire Bitbank in $289M Deal to Build Japan’s Crypto Giant

TLDR

• SBI’s $289M Bitbank deal reshapes Japan’s regulated crypto exchange market.

• Bitbank will become part of SBI Group after a phased share transfer deal.

  

• The acquisition could lift SBI’s crypto assets beyond ¥1 trillion in Japan.

• Japan’s tougher crypto rules may favor larger regulated financial groups.

• Bitbank says services will continue as usual during the acquisition process.

SBI Holdings will acquire Bitbank in a ¥46.7 billion deal that will reshape Japan’s regulated cryptocurrency exchange sector. The transaction, valued at about $289 million, will place Bitbank under the financial group’s full control. Together, the companies will create Japan’s largest crypto trading group by assets under management.

SBI Moves to Take Full Control of Bitbank

SBI signed basic and share transfer agreements with Bitbank and several major shareholders on June 24. Its wholly owned subsidiary, SBICAH, will purchase shares from Bitbank founder Noriyuki Hirosue and other individual shareholders. The subsidiary plans to start those purchases as early as August.

Bitbank will then acquire shares currently held by MIXI and Ceres before the end of October. After completing these transactions, SBICAH will become Bitbank’s sole shareholder under the agreed corporate structure. Bitbank will also leave its equity-method relationships with MIXI and Ceres following the ownership change.

The deal follows discussions that began in May over a capital and business alliance between both companies. SBI previously outlined plans to acquire Bitbank shares and bring the exchange into its wider financial network. The latest agreements now provide a formal route for completing the acquisition.

Deal Expands SBI’s Crypto Exchange Network

The acquisition will raise SBI’s total crypto assets above ¥1 trillion, according to current transaction estimates. That level would place the group ahead of major domestic operators, including bitFlyer and Coincheck. It would also combine several established Japanese platforms under one financial group.

SBI has expanded its exchange operations through acquisitions, account transfers, and business integrations across Japan. SBI VC Trade absorbed BITPoint Japan in April 2026, reducing overlap across the group’s crypto services. The company also integrated customer accounts from DMM Bitcoin after that exchange ended operations.

Bitbank adds an established spot trading, lending, and payment platform to the group’s existing operations. The exchange recently partnered with EPOS Card to introduce a crypto-linked credit card service in Japan. Customers can settle monthly card bills using Bitcoin held through their Bitbank accounts.

Regulation Supports Larger Crypto Groups

Japan is reviewing rules that could move crypto assets under the Financial Instruments and Exchange Act. The proposed shift would introduce stronger governance, capital, compliance, and risk management requirements for exchange operators. Larger financial groups may handle those requirements more easily than smaller standalone companies.

SBI plans to use its banking, securities, insurance, and payment infrastructure to support Bitbank’s next growth stage. The group could also connect the exchange with stablecoins, rewards, tokenized assets, and settlement services. However, Bitbank has announced no immediate changes to its trading platform, brand, or customer terms.

Bitbank said its customers can continue using existing services throughout the acquisition process. Meanwhile, SBI is pursuing a majority investment in Singapore-based Coinhako to expand across Asian markets. The two deals support a broader strategy linking regulated exchanges with traditional financial services across the region.

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