SBI Holdings to Buy Crypto Exchange Bitbank for $289 Million
Japan's SBI Holdings agreed to acquire crypto exchange Bitbank for about $289 million, deepening its digital-asset business as Japan moves to regulate cryptocurrencies as financial products, with the deal set to close in October.
SBI Holdings to Buy Crypto Exchange Bitbank for $289 Million Japan's SBI Holdings agreed to acquire crypto exchange Bitbank for about $289 million, deepening its digital-asset business as Japan moves to regulate cryptocurrencies as financial products, with the deal set to close in October. Aaron Rafferty June 27, 2026 Key Takeaways: SBI Holdings, a major Japanese financial group, agreed to buy crypto exchange Bitbank for about $289 million, with the deal set to close in October pending regulatory approval. The purchase deepens SBI's crypto push, which already included buying the exchange Bitpoint in 2022, as it builds scale ahead of new Japanese rules. Japan is moving to classify cryptocurrencies as financial products under its securities law, a shift that could take effect early in the next fiscal year. SBI Holdings, one of Japan's largest financial services groups, said it agreed to buy the cryptocurrency exchange Bitbank for around $289 million, a deal it expects to close in October pending regulatory approval. SBI framed the purchase as part of a wider plan to expand its crypto business ahead of changes coming to how Japan regulates digital assets. The deal extends a steady build. SBI bought the exchange Bitpoint in 2022 and has kept adding crypto pieces as Tokyo has warmed to regulated digital assets. Bitbank is among Japan's ten largest exchanges by trading activity, handling just under $50 million in daily volume, which hands SBI a larger retail footprint as competition tightens. The timing tracks a bigger move. Japan is in the process of bringing cryptocurrencies under the Financial Instruments and Exchange Act, the same law that governs stocks and other securities, a change that could take effect early in the next fiscal year. Classifying crypto