SBI Holdings Moves to Acquire Bitbank in Strategic Digital Asset Expansion

SBI Holdings is aggressively expanding its cryptocurrency infrastructure, announcing plans to acquire a stake in Bitbank, one of Japan's leading digital asset exchanges. The Tokyo-based conglomerate has formally submitted a letter of intent to purchase shares, intending to integrate Bitbank as a consolidated subsidiary. This acquisition is a strategic response to evolving regulatory frameworks in Japan. The Japanese cabinet recently approved a draft amendment that could reclassify cryptocurrencies as financial products under the Financial Instruments and Exchange Act. If passed during the current parliament session, these changes could take effect as early as fiscal 2027, bringing digital assets under the same regulatory umbrella as stocks and securities. The Bitbank move follows SBI's previous absorption of Bitpoint and its disclosed plans to acquire a majority stake in the Singapore-based, MAS-regulated platform Coinhako. By diversifying its holdings across different jurisdictions, SBI is positioning itself as a regional powerhouse in the digital asset space. Beyond exchange acquisitions, SBI is integrating crypto into consumer finance. The firm has partnered with Visa to launch credit cards that automatically convert spending rewards into Bitcoin (BTC), Ethereum (ETH), or XRP, allowing users to accumulate digital assets through daily transactions.