Japan · Decrypt
SBI Holdings, the Japanese financial conglomerate, announced Thursday that it has agreed to acquire Bitbank
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The transaction, approved by SBI's board on Thursday, involves a series of agreements with Bitbank CEO Noriyuki Hirosue, other individual shareholders, and Bitbank's two largest corporate shareholders—MIXI Inc. and Ceres Inc.—which together control nearly half of the exchange.
Key facts
- SBI Holdings, the Japanese financial conglomerate, announced Thursday that it has agreed to acquire Bitbank, a Tokyo-based cryptocurrency exchange, in a deal valued at roughly 46.7 billion yen
- The transaction, approved by SBI's board on Thursday, involves a series of agreements with Bitbank CEO Noriyuki Hirosue, other individual shareholders, and Bitbank's two largest corporate shareholders—MIXI Inc. and Ceres Inc
- Bitbank reported a net loss for the fiscal year ended December 2025, after two years of profitability, according to financial disclosures included in SBI's announcement
- The deal is expected to close around October, pending clearance from Japan's Fair Trade Commission
Summary
SBI Holdings is buying Tokyo crypto exchange Bitbank for about $289 million, making it a wholly owned subsidiary. Combined with SBI VC Trade, it'll hold $6.8 billion in assets and 2.92 million accounts. The deal still needs regulatory clearance and is expected to close around October. SBI Holdings, the Japanese financial conglomerate, announced Thursday that it has agreed to acquire Bitbank, a Tokyo-based cryptocurrency exchange, in a deal valued at roughly 46.7 billion yen, or nearly $289 million.