Japan · Decrypt
SBI Holdings Confirms $289 Million Bitbank Deal Will Make It Japan's Largest Crypto Exchange
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◎ Multiple-sources
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.
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. 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.