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SBI Group acquires Japan's Bitbank exchange for $289M, boosting crypto market lead.

Market News
25 Jun 2026
UToday
View Source
Bullish
pluang ai news

Japanese financial conglomerate SBI Group is acquiring Bitbank, Japan's third-largest cryptocurrency exchange, for approximately $289 million in a multi-stage deal. The acquisition involves buying shares from individual and corporate shareholders, followed by a merger with SBI VC Trade, which will create Japan's largest crypto business with over 2.9 million accounts and assets exceeding 1.1 trillion yen. This move strengthens SBI's position in the digital asset market and supports the XRP ecosystem, as SBI is a major XRP holder and partner of Ripple, recently launching the RLUSD stablecoin in Japan.

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