SBI plans to consolidate bitbank as a consolidated subsidiary and has initiated discussions on capital and business cooperation.

According to CoinPost, SBI Holdings announced on May 1 that it has officially begun negotiations with bitbank Co., Ltd.—the operator of the cryptocurrency exchange bitbank—regarding a capital and business partnership, with the aim of bringing bitbank under SBI’s consolidated subsidiaries. SBI will proceed with the share acquisition upon completion of due diligence and internal procedures; the specific timing and method of acquisition remain subject to further discussion. Previously, SBI’s subsidiary SBI VC Trade completed the absorption merger of BITPoint Japan in April.