Ripple Backer SBI Opens Bitbank Talks, Eyes Japan’s Largest Crypto Exchange
BeInCrypto
Japanese financial giant SBI Holdings has entered talks to acquire Bitbank, aiming to become the largest regulated cryptocurrency exchange operator in Japan.Summary
SBI Holdings has initiated formal negotiations to acquire Bitbank Inc., the third-largest cryptocurrency exchange in Japan, with the goal of incorporating it as a consolidated subsidiary. If successful, this acquisition would combine their operations to surpass rivals like bitFlyer and Coincheck, establishing SBI as Japan's largest crypto exchange operator. This move is part of a broader strategy by CEO Yoshitaka Kitao to integrate traditional finance with blockchain technology, supported by the company's strong fiscal performance and existing crypto-related ventures, including a 9% stake in Ripple.
(Source：BeInCrypto)