Skip to navigationSkip to main contentSkip to right columnCryptoProwlFri, June 26, 2026 at 7:23 PM GMT+2 1 min readJapan's SBI Holdings To Acquire Bitbank For $289 MillionJapanese financial services firm SBI Holdings (OTC: $SBHGF) has agreed to buy cryptocurrency exchange Bitbank for $289 million U.S.The Tokyo-based bank said the purchase of Bitbank will help expand its crypto business. SBI Holdings previously bought crypto exchange Bitpoint in 2022.The acquisition comes with Japan in the process of bringing crypto under the umbrella of financial products as authorized by the Financial Instruments and Exchange Act.More From Cryptoprowl:Ripple, The Company Behind XRP, Is Valued At $50 BillionEightco Secures $125 Million Investment From Bitmine And ARK Invest, Shares SurgeBlockchain Projects Decline 75% As Developers Shift To A.I.Stanley Druckenmiller Says Stablecoins Could Reshape Global FinanceNew York Stock Exchange Invests $600 Million In PolymarketThat legislation governs stocks and other securities in Japan and is expected to take effect in early 2027.Bitbank is among Japan's largest cryptocurrency exchanges, with 24-hour trading volumes of $50 million U.S. However, global competitors such as Kraken process in excess of $1 billion U.S. in trading volumes each day, making Bitbank small within the global industry.SBI Holdings said the acquisition, which is subject to regulatory approvals, is likely to close in October of this year.The stock of SBI Holdings, which trades on the over-the-counter market in the U.S., has declined 22% this year to $16.80 U.S. per share.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info