SBI Holdings Acquires Japanese Crypto Exchange Bitbank in $288.6 Million Deal

SBI Holdings will acquire all shares of Japanese crypto exchange Bitbank for $288.6 million, creating Japan's largest regulated crypto exchange group with 2.92 million accounts and $6.8 billion in assets.

• SBI will pay 46.7 billion yen ($288.6M) to acquire Bitbank, making it a wholly owned subsidiary
• The combined SBI VC Trade and Bitbank operation will hold 2.92 million accounts and $6.8 billion in assets under custody
• The deal makes SBI the largest regulated crypto exchange operator in Japan, ahead of bitFlyer and Coincheck
• Bitbank has a zero-hacking-incident record since launch and will continue normal operations during the transition
• The acquisition comes as Japan considers reclassifying crypto under the Financial Instruments and Exchange Act by fiscal 2027

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