New Crypto Giant? SBI's Bitbank Deal Could Create Japan's Largest Crypto Exchange

▤ Summary

SBI Holdings has agreed to buy Bitbank in a deal worth about JPY 46.7 billion. The transaction still needs approval from Japan’s Fair Trade Commission before it can close. If completed, the combined platform with SBI VC Trade could become Japan’s largest crypto exchange group by custody assets and one of the largest by account count. SBI also sees the deal as a way to expand into stablecoins and on-chain finance. The closing timeline points to an initial phase in August 2026 and full completion around October 2026.

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