SBI Holdings in talks to take controlling stake in crypto exchange Bitbank

SBI Holdings, a major Japanese financial services conglomerate, is in discussions to form a capital and business alliance with crypto exchange Bitbank, potentially making it a consolidated subsidiary. Bitbank, the third-largest crypto exchange in Japan by trading volume, specializes in Bitcoin and other digital assets against the Japanese yen. This move comes as Japan is revising its cryptocurrency regulations, bringing digital assets under stricter oversight. SBI Holdings has been actively expanding its digital asset presence, having previously acquired DMM Bitcoin customer accounts and integrated BITPoint Japan. The acquisition of Bitbank would position SBI to create Japan's largest crypto asset platform group. Additionally, SBI plans to acquire a majority stake in Singapore-based Coinhako to expand its reach in Asian digital asset markets.

(Source：Crypto Briefing)