SBI Holdings Targets Bitbank Acquisition Amid Japanese Regulatory Shift

SBI Holdings has entered discussions to acquire shares in Bitbank, one of Japan's leading cryptocurrency exchanges, as part of a strategic capital and business alliance. The potential acquisition would make Bitbank a consolidated subsidiary, further consolidating SBI's footprint in the domestic digital asset landscape. This move follows a broader trend of consolidation within the Japanese market. Just last month, SBI VC Trade absorbed Bitpoint Japan on April 1. The push for acquisition is driven by the Japanese government's efforts to transition crypto assets from simple payment tools to regulated securities. On April 10, the Japanese Cabinet approved amendments to the Financial Instruments and Exchange Act and the Payment Services Act. These changes are designed to enhance market transparency, investor protection, and oversight, effectively bringing digital assets under the same regulatory umbrella as traditional financial instruments. Bitbank currently ranks third in daily trading volume in Japan and holds a top trust score according to Coingecko. By integrating Bitbank, SBI aims to establish a dominant position just as institutional interest grows and the country prepares for the potential launch of crypto ETFs by 2028. SBI's digital strategy extends beyond domestic exchanges. The group previously invested $50 million in Circle's IPO in June 2025 and has held strategic stakes in Sygnum Bank and TaoTao, the latter of which merged into SBI VC Trade.