SBI plans to acquire Japanese exchange bitbank, marking its second acquisition within a month

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SBI Holdings announced on May 1 that it has entered into discussions for a capital and business partnership with Bitbank, Inc., the operator of the cryptocurrency exchange bitbank, with the intention of making it a consolidated subsidiary. This follows the April 1 merger of Bitpoint Japan into SBI’s subsidiary, SBI VC Trade, marking the second consolidation of a Japanese crypto exchange within a single month. (Previous coverage: Japan amends financial laws to classify cryptocurrencies as financial products, criminalizing insider trading and paving the way for ETFs by 2028) (Background: Nomura Securities survey: Nearly 80% of Japanese institutions plan to "buy cryptocurrencies within three years," with allocations potentially reaching 5%) According to the announcement, a letter of intent for the acquisition of shares has been submitted to Bitbank, Inc., and both parties are currently in negotiations regarding capital cooperation and business integration. SBI plans to acquire shares of bitbank and make it a consolidated subsidiary upon the completion of due diligence and internal procedures, though the timing and method of the acquisition have yet to be determined. bitbank is one of Japan's major cryptocurrency exchanges and had previously disclosed plans to list on the Tokyo Stock Exchange by mid-2025. If realized, it would become the first publicly traded crypto exchange operator in Japan. The relationship between SBI's acquisition talks and bitbank's original IPO plan remains unclear. The SBI Group's consolidation efforts are accelerating. Following the absorption of Bitpoint Japan by its subsidiary SBI VC Trade on April 1, the group has now set its sights on bitbank just one month later. By acquiring two exchanges in one month, SBI's pace of consolidation in the Japanese crypto market has shifted into rapid advancement.

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Published:2026-05-01 06:16:29

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