SBI Holdings has entered formal discussions with Bitbank to form a capital and business alliance, with the stated goal of making Bitbank a consolidated subsidiary via a share acquisition. The move follows due diligence, though SBI has not disclosed a timeline or deal structure.
For Japan's crypto market, the pairing would be significant: SBI is one of the country's largest financial conglomerates and already operates SBI VC Trade, its own regulated exchange. Absorbing Bitbank — one of Japan's longer-running spot exchanges — would consolidate two established players under a single balance sheet.
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SBI Holdings in Talks to Acquire Bitbank as Subsidiary
SBI Holdings announced it has entered discussions with Bitbank to form a capital and business alliance, aiming to make Bitbank a consolidated subsidiary through a potential share acquisition after due diligence. The timing and structure remain undisclosed.
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