SBI Creates Japan's Largest Crypto Exchange with Bitbank Acquisition

SBI Holdings has completed its acquisition of Japanese crypto exchange Bitbank, making it a wholly owned subsidiary. The deal, worth about ¥46.7 billion ($289 million), was finalized on October 1 and creates Japan's largest exchange platform by custodied assets.

The combination folds Bitbank into SBI's existing crypto operations, which include a spot exchange listing dozens of cryptocurrencies against the yen, as well as coin-lending and custody services.

The deal brings roughly ¥1.1 trillion ($7 billion) under custody across about 2.92 million accounts, making it the largest in Japan by this metric.

SBI said the acquisition will have a minor impact on its results for the year ending March 2027.