SBI eyes Bitbank deal as Japan’s crypto exchange market consolidates

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Bitbank company profile. Source: SBI Group Bitbank is one of Japan’s major crypto exchanges. It ranks as Japan’s leading cryptocurrency exchange by Coingecko’s trust score, which measures the legitimacy of crypto exchanges based on liquidity, trading activity, cybersecurity and operational scale. It ranks third among cryptocurrency exchanges by daily trading volume, behind bitFlyer and Coincheck. Top Japanese crypto exchanges by trust score. Source: Coingecko The proposed deal would add to SBI’s broader digital asset footprint. SBI made a $50 million investment in Circle's IPO in June 2025. In previous years, SBI also made strategic investments in other crypto-native companies, including BITPoint Japan, Sygnum Bank and crypto exchange TaoTao, which later merged into SBI VC Trade. Japan’s regulatory shift comes as institutional interest in digital assets continues to grow and policymakers reassess how crypto should fit within the country’s financial markets. Japanese Finance Minister Satsuki Katayama first signaled the intent to bring crypto under the same umbrella as traditional finance assets in January, to ensure that citizens will “benefit from digital and blockchain-based assets.” Related: South Korea’s Shinhan Card taps Solana to test real-world stablecoin payments The country is also planning to legalize the launch of cryptocurrency exchange-traded funds (ETFs) by 2028, according to a January report. Large financial conglomerates like SBI Holdings and Nomura are among the first companies expected to develop crypto-linked ETFs. Magazine: Singapore isn’t a ‘crypto hub’ — it’s something better: StraitsX CEO

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