SBI Holdings Plans to Acquire Bitbank for $289 Million
SBI Holdings has announced its intention to buy cryptocurrency exchange Bitbank for approximately $289 million, as reported by CoinDesk. The acquisition is part of SBI's strategy to expand its crypto operations amid anticipated regulatory changes in Japan.
On June 26, 2026, SBI Holdings revealed that it has agreed to acquire Bitbank for about $289 million. This Tokyo-based financial services group indicated that the deal, which is subject to regulatory approval, is set to close in October 2026.
Bitbank ranks among the top ten largest cryptocurrency exchanges in Japan based on trading activity. With a reported 24-hour trading volume of just under $50 million, it faces competition from larger platforms such as Toobit, CoinW, Kraken, and Bitmart, which all exceed $1 billion in volume.
SBI's acquisition is seen as part of a broader effort to strengthen its presence in the crypto market as Japan moves closer to regulating cryptocurrencies under the Financial Instruments and Exchange Act. This legislation aims to classify cryptocurrencies as financial products, possibly becoming effective in the early measures of the next fiscal year. SBI has previously reinforced its commitment to the sector by acquiring the crypto exchange Bitpoint in 2022.
As the landscape evolves with regulatory changes, the implications for firms involved in crypto trading and the overall market remain significant. Observers will be watching how this acquisition influences SBI's strategic positioning within the industry and the potential shifts in Japan's crypto regulatory framework.
Summary based on original reporting by Jamie Crawley at CoinDesk, originally published Jun 26, 2026. SolanaWire does not republish source content.
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