The acquisition will create Japan’s largest crypto asset manager with ¥1.1 trillion in assets under custody.
SBI will acquire Japan’s third-largest crypto exchange, Bitbank, for ¥46.7 billion ($289 million). The deal will make Bitbank a consolidated subsidiary of SBI.
The combined entity’s assets under custody are projected to reach ¥1.1 trillion ($6.2 billion), positioning it as the top crypto asset manager in Japan. No prior acquisition of this scale has been announced in the country’s crypto sector.
Completion of the transaction will expand SBI’s footprint in digital asset management amid growing institutional interest in cryptocurrencies.