The acquisition aims to bolster SBI’s digital asset operations ahead of Japan’s new crypto regulations in 2027.
SBI Holdings will acquire Japanese cryptocurrency exchange Bitbank for $289 million, expanding its crypto business. The deal follows SBI’s 2022 purchase of Bitpoint and aligns with Japan’s upcoming regulatory framework for digital assets under the Financial Instruments and Exchange Act, set to take effect in early 2027.
Bitbank ranks among Japan’s largest crypto exchanges, with $50 million in daily trading volume. However, it remains smaller than global rivals like Kraken, which processes over $1 billion daily. The acquisition is pending regulatory approval and is expected to close in October.
SBI Holdings’ U.S. OTC-traded stock has fallen 22% this year to $16.80 per share.