SBI Holdings Acquires Bitbank
SBI Holdings has officially greenlit its plan to acquire bitbank, a prominent Japanese cryptocurrency exchange, paving the way for it to become a wholly owned entity within the SBI corporate structure. On June 25, the board of SBI resolved to engage in a key agreement with bitbank’s stakeholders, including CEO Noriyuki Hirosue, MIXI, Ceres, and other investors, signaling a major development in Japan’s crypto landscape.
Details of the Acquisition
The acquisition will be executed through SBI’s subsidiary, SBICAH GK, with an estimated total cost of approximately ¥46.7 billion. This figure encompasses not only the share acquisition expenses but also the funds allocated for an upcoming capital increase.
This significant move follows a Letter of Intent signed in May 2026, which laid the groundwork for what is expected to create Japan’s largest platform for crypto assets by total holdings. The initial phase of the transaction will involve SBICAH acquiring 53,704 shares from Hirosue and other private shareholders, anticipated to be finalized around August 2026. Subsequently, by October 2026, another step will involve a third-party allotment of 48,952 new shares to SBICAH.
Following these transactions, bitbank intends to utilize the capital raised to repurchase shares held by MIXI and Ceres, eventually retiring them as treasury stocks. Ultimately, this series of transactions will bring SBI’s stake in bitbank to 100% of the voting rights indirectly. However, this deal is still pending review from the Japan Fair Trade Commission, along with other customary conditions.
Impact on the Cryptocurrency Market
This acquisition will merge bitbank with SBI’s current cryptocurrency operation, SBI VC Trade. According to data from both entities as of April 30, the amalgamated group is expected to manage roughly ¥1.1 trillion in assets and serve around 2.92 million cryptocurrency accounts. This development is particularly noteworthy as it occurs amidst a trend of consolidation within Japan’s crypto exchange market, which was highlighted in earlier reports regarding SBI VC Trade’s merger with Bitpoint Japan earlier this year.
Not only does this acquisition enhance SBI’s presence in the regulated crypto sector, but it also adds an established brand with a clean security record—bitbank has reported no hacking incidents since its inception. This accomplishment is expected to bolster user trust as SBI aims to establish more robust crypto asset services.
Future Plans and Innovations
Moreover, SBI Holdings has indicated ambitions beyond just trading cryptocurrencies. The company is focusing on expanding its financial services that revolve around stablecoins and on-chain finance with the inclusion of bitbank. A recent venture, Strium, launched collaboratively by SBI and Startale, aims to create a Layer 1 blockchain dedicated to tokenized securities and real-world assets. This includes plans for a regulated yen stablecoin, set to be issued by Shinsei Trust & Banking and managed by SBI VC Trade.
In addition, SBI has been broadening its crypto-related retail offerings, including a collaboration with Visa to launch a new card program that allows customers to earn rewards in cryptocurrencies such as Bitcoin, Ethereum, and XRP through its services. As for current bitbank users, the transition will be relatively smooth, as bitbank has confirmed that all existing services will remain unaffected throughout the acquisition process.
