SBI Holdings finalized the acquisition of Bitbank on October 1, 2026, establishing the cryptocurrency exchange as a wholly owned subsidiary. The transaction concluded after Bitbank repurchased remaining shares from MIXI and Ceres, following months of negotiations that began with a letter of intent in May 2026. A new management structure links the entities, with Tomohiko Kondo joining Bitbank’s board and Noriyuki Hirosue becoming an outside director at SBI VC Trade.
Bitbank confirmed that customer services will remain unchanged despite the ownership shift. The integration provides access to SBI Group’s financial resources and customer base to support digital asset expansion. This move aligns with SBI’s broader strategy, which includes the July 2026 majority stake purchase of Coinhako and the June launch of the JPYSC stablecoin. Estimated combined assets under custody reached ¥1.1 trillion with approximately 2.92 million accounts based on April 30 figures.
The completion of this acquisition signals a consolidation phase for Japan's regulated crypto market, where major financial conglomerates are absorbing independent exchanges to secure infrastructure and compliance capabilities. By integrating Bitbank directly into the SBI ecosystem, the group strengthens its institutional footprint while maintaining the operational continuity required by existing users. This approach mitigates disruption risks associated with M&A activities in the financial sector, ensuring that regulatory standing and service availability remain intact during the transition period.
From a market structure perspective, the cross-directorship between SBI VC Trade and Bitbank indicates a strategic effort to unify liquidity and custody operations under a single corporate umbrella. This alignment allows SBI to leverage Bitbank’s established user base alongside its own distribution networks, potentially creating a more robust framework for institutional adoption. Observers should monitor how this integrated management model influences product development and whether it sets a precedent for further consolidation among licensed Japanese exchanges seeking scale against global competitors.
