SBI Holdings Takes Full Control of Bitbank in ¥46.7B Acquisition

• SBI will acquire bitbank for ¥46.7B through a multi-stage transaction ending in October 2026.
• Combined platform will manage ¥1.1T in customer assets across nearly 2.92 million accounts.
• SBI plans to expand stablecoins and on-chain finance after completing the bitbank acquisition.

SBI Holdings has approved a definitive agreement to acquire cryptocurrency exchange bitbank for approximately ¥46.7 billion. The transaction will make bitbank a wholly owned subsidiary and create Japan’s largest crypto asset platform by customer assets under custody, pending regulatory approval.

SBI Expands Crypto Business Through Bitbank Acquisition

SBI Holdings confirmed the acquisition through its wholly owned subsidiary, SBICAH LLC. The total transaction value is approximately ¥46.7 billion. The agreement follows a letter of intent signed between both companies in May 2026.

The acquisition will take place through several planned stages before completion in October 2026. Each step remains subject to approval from the Japan Fair Trade Commission and other customary closing conditions.

The process begins with SBICAH purchasing 53,704 shares from bitbank CEO Noriyuki Hirosue and other shareholders during August. Afterward, SBICAH will subscribe to 48,952 newly issued shares through a third-party allotment planned for October.

Bitbank will then use the newly raised capital to repurchase shares held by its major corporate investors, MIXI and Ceres. Those shares will become treasury stock before retirement, allowing SBI Holdings to indirectly secure full ownership.

Before the agreement, Hirosue owned a 30.86% stake in bitbank. Meanwhile, MIXI held 26.22%, while Ceres controlled 22.39% of the exchange.

The company expects to complete every transaction stage during October if regulators approve the acquisition. Following completion, SBI Holdings will control 100% of bitbank’s voting rights through SBICAH.

Combined Platform Targets Market Leadership

The acquisition strengthens SBI Holdings’ position within Japan’s regulated cryptocurrency market. It also expands the group’s digital asset operations alongside its existing exchange, SBI VC Trade.

Based on customer data from April 2026, the combined businesses will hold approximately ¥1.1 trillion in customer assets under custody. Together, they will also serve roughly 2.92 million cryptocurrency accounts across Japan.

SBI stated that bitbank’s security history supported the acquisition decision. The exchange has reported no successful hacking incidents since its launch in 2014, strengthening confidence in its operational standards.

Beyond exchange services, SBI plans to expand stablecoin offerings and on-chain financial products using the combined platform. The company continues investing in blockchain infrastructure and tokenized financial services across Japan.

Bitbank currently provides cryptocurrency trading, lending, and crypto-related payment services for domestic users. Existing customer services will continue without immediate operational changes during the acquisition process.

SBI Holdings also stated that the transaction is not expected to materially affect its consolidated financial results for the fiscal year ending March 2027. Instead, the company views the acquisition as a long-term strategic investment designed to strengthen its digital asset business and expand its presence in Japan’s growing cryptocurrency industry.

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