SBI Acquires Japanese Crypto Exchange Bitbank in ¥46.7 Billion All-Cash Deal

Odaily reports: Japanese licensed crypto exchange Bitbank has announced that SBI Holdings completed its full subsidiary acquisition of the company on October 1. Following Bitbank's buyback of shares from MIXI and Ceres, all previously planned transactions have been finalized, making Bitbank an indirectly 100%-owned subsidiary of SBI Holdings. The total consideration for the share acquisition and capital increase previously disclosed by SBI was approximately ¥46.7 billion. Bitbank CEO Noriyuki Hirosue will remain in his position. The company stated that existing exchange services will not be affected by the transaction, and that it will further expand its digital asset business by leveraging SBI's financial capabilities, customer base, and resources.