SBI Holdings to Acquire Bitbank in US$289M Crypto Expansion

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SBI Holdings has agreed to buy Japanese crypto exchange Bitbank in a deal valued at about US$289 million. The deal is expected to close in October after approval from Japan’s Fair Trade Commission. SBI plans to fold Bitbank into its SBI BC Trade unit and expand its digital asset platform. The combined business is expected to serve about 2.9 million crypto asset accounts and hold roughly US$6.8 billion in custody assets. The move strengthens SBI’s position in Japan’s digital asset market ahead of expected regulatory changes.

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