SBI Holdings to buy Japanese crypto exchange Bitbank for $289m

SBI Holdings will acquire Japanese cryptocurrency exchange Bitbank for $289m, the companies announced, transferring ownership of a major domestic trading platform to the Tokyo-based financial group.

SBI, a diversified financial services company headquartered in Tokyo, agreed to buy the shares of Bitbank in a transaction valued at $289m. The firms said the deal will bring Bitbank into SBI’s broader digital-asset and financial services operations.

Bitbank operates a trading platform that offers fiat-to-crypto pairs and major digital assets to retail traders and some institutional customers in Japan. SBI described the acquisition as a way to add Bitbank’s trading technology, customer base and operational capabilities to its existing crypto services.

The transaction is subject to customary closing conditions and any required regulatory approvals in Japan. Neither company disclosed the payment structure or a firm closing date in the initial announcement.

SBI plans to integrate Bitbank’s order books, wallets and customer services with its current digital-asset initiatives. The companies provided limited operational details and said they will release more information on timing, governance and service continuity as the transaction progresses.

Japan’s Financial Services Agency oversees crypto exchanges and requires licensing, anti-money-laundering measures and customer protection safeguards. The transfer of ownership will require review by regulators to confirm Bitbank meets those rules under new ownership.

SBI has previously invested in fintech and digital-asset ventures and operates other crypto services. Bitbank was founded to provide cryptocurrency trading and related services within Japan and has built a domestic presence through features tailored to local users and regulations.

Large Japanese financial groups have pursued acquisitions of established exchanges to gain faster entry into digital-asset markets. The companies involved in this deal framed the acquisition as a continuation of that trend and said further details will follow as approvals are obtained.