Japanese financial giant SBI Holdings has initiated formal negotiations with Bitbank for a capital and business partnership. The deal aims to turn Bitbank into a fully owned subsidiary of SBI, marking a major step in the country’s crypto exchange consolidation.
SBI plans to purchase shares following due diligence and board approval, with specifics about timing and structure to be decided later. This move comes just months after SBI VC Trade merged with Bitpoint Japan in April 2026.
The acquisition talks reflect SBI’s aggressive push to strengthen its crypto exchange portfolio. Japan is simultaneously reassessing crypto asset classification under its Financial Instruments and Exchange Act, which could lead to stricter regulations for exchanges and investment products.
Bitbank had previously aimed for a Tokyo Stock Exchange listing by mid-2025 and raised roughly 7 billion yen through a partnership with Mixi in 2021. Mixi currently holds a 26.2% stake in Bitbank, and the SBI proposal may alter the exchange’s ownership structure and listing plans.
Aside from its exchange operations, Bitbank has been expanding crypto payment services. It recently launched the EPOS Crypto Card with EPOS Card, a fintech arm of Marui Group. The card enables users to pay monthly credit card bills with Bitcoin held on Bitbank and offers 0.5% cashback in Bitcoin, Ether, or Aster. Bitbank claims this is Japan’s first card allowing direct crypto settlement from an exchange balance, with plans to add more digital assets later.
If the SBI deal goes through, it would merge Bitbank’s established brand and payment innovations with SBI’s extensive financial network. Bitbank has a strong security record, reporting zero hacking incidents since its inception, which could make it an attractive acquisition target for a larger financial conglomerate.