Japan’s SBI Holdings To Acquire Bitbank For $289 Million

CryptoProwl

Fri, June 26, 2026 astatine 12:23 PM CDT 1 min read

Japanese fiscal services steadfast SBI Holdings (OTC: $SBHGF) has agreed to bargain cryptocurrency speech Bitbank for $289 cardinal U.S.

The Tokyo-based slope said the acquisition of Bitbank volition assistance grow its crypto business. SBI Holdings antecedently bought crypto speech Bitpoint successful 2022.

The acquisition comes with Japan successful the process of bringing crypto nether the umbrella of fiscal products arsenic authorized by the Financial Instruments and Exchange Act.

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That authorities governs stocks and different securities successful Japan and is expected to instrumentality effect successful aboriginal 2027.

Bitbank is among Japan's largest cryptocurrency exchanges, with 24-hour trading volumes of $50 cardinal U.S. 

However, planetary competitors specified arsenic Kraken process successful excess of $1 cardinal U.S. successful trading volumes each day, making Bitbank tiny wrong the planetary industry.

SBI Holdings said the acquisition, which is taxable to regulatory approvals, is apt to adjacent successful October of this year.

The banal of SBI Holdings, which trades connected the over-the-counter marketplace successful the U.S., has declined 22% this twelvemonth to $16.80 U.S. per share.