SBI Holdings completes $290M acquisition of Bitbank
CIE News ·
SBI Holdings completed its $290 million buyout of Japanese exchange Bitbank on October 1, consolidating 2.92 million customer accounts and $6.97 billion in assets under custody.
SBI Holdings completed its full acquisition of Japanese crypto exchange Bitbank on October 1, 2026, according to Bitcoin.com News. The buyout carried a valuation of approximately $290 million, or 46.7 billion yen, following regulatory clearance from the Japan Fair Trade Commission.
The transaction executed in three phases, including a third-party share allotment and the acquisition of shares from Bitbank's chief executive officer, minority shareholders, Mixi, and Ceres. Bitbank stated that user accounts, trading operations, and services continue without changes. Tomohiko Kondo, president of SBI VC Trade, joined the Bitbank board, while Bitbank CEO Noriyuki Hirosue took a seat as an outside director at SBI VC Trade.
The combined operations of SBI VC Trade and Bitbank encompass roughly 2.92 million user accounts and 6.97 billion dollars in custodied assets, Bitcoin.com News reported. SBI also indicated that the consolidated entity is working on stablecoin services, including the JPYSC yen stablecoin under development with SBI Shinsei Trust Bank.