SBI to acquire Bitbank in $289M deal creating Japan's biggest crypto exchange (opens original article in a new tab)

SBI Holdings has agreed to acquire Bitbank for $289 million, creating Japan's largest crypto exchange. The deal will combine SBI's and Bitbank's assets under custody to 1.1 trillion yen with 2.92 million crypto accounts. Bitbank's trading volume has been below $50 million for four months. SBI is expanding its digital asset ecosystem through blockchain projects and stablecoins.

• SBI Holdings to acquire Bitbank for $289 million creating Japan's largest crypto exchange
• Bitbank's daily trading volume has been below $50 million for four months with BTC/JPY as top pair
• SBI expects combined assets under custody of 1.1 trillion yen and 2.92 million crypto accounts after acquisition
• SBI is expanding digital asset ecosystem with blockchain projects and stablecoins like JPYSC and RLUSD