Tokyo-based SBI Holdings has opened talks to acquire shares in cryptocurrency exchange Bitbank and make it a consolidated subsidiary, extending its push to consolidate regulated crypto trading platforms in Japan as the country moves toward securities-style rules for digital assets.
The financial conglomerate said Friday it is considering a share acquisition as part of a potential capital and business alliance with Bitbank. The deal remains subject to due diligence, negotiations and internal approvals, SBI said.
The talks come a month after SBI VC Trade absorbed Bitpoint Japan on April 1, with SBI VC Trade becoming the surviving company. A Bitbank acquisition would give SBI a larger position in Japanโs crypto exchange market at a time when policymakers are preparing to bring crypto assets under the Financial Instruments and Exchange Act.
SBI said the potential deal would help the group establish an โoverwhelming position in the domestic cryptocurrency industry,โ citing Japanโs planned regulatory shift for crypto assets.
Japanโs Cabinet approved a bill on April 10 to amend the Financial Instruments and Exchange Act and the Payment Services Act, according to the Financial Services Agency. The bill is intended to strengthen market fairness, transparency and investor protection while revising rules for crypto assets.
Crypto assets are currently regulated by the FSA under the Payment Services Act as a means of payment. The proposed changes would move crypto closer to Japanโs traditional financial market framework, with stronger disclosure, exchange oversight and rules targeting unfair trading.
Cointelegraph asked SBI Holdings for comment on the proposed Bitbank acquisition and how Japanโs shifting crypto rules are affecting the groupโs exchange strategy, but had not received a response by publication.
Bitbank company profile. Source: SBI Group
Bitbank is one of Japanโs major crypto exchanges. It ranks as Japanโs leading cryptocurrency exchange by Coingeckoโs trust score, which measures the legitimacy of crypto exchanges based on liquidity, trading activity, cybersecurity and operational scale.
It ranks third among cryptocurrency exchanges by daily trading volume, behind bitFlyer and Coincheck.
Top Japanese crypto exchanges by trust score. Source: Coingecko
The proposed deal would add to SBIโs broader digital asset footprint. SBI made a $50 million investment in Circle’s IPO in June 2025. In previous years, SBI also made strategic investments in other crypto-native companies, including BITPoint Japan, Sygnum Bank and crypto exchange TaoTao, which later merged into SBI VC Trade.ย
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Japanโs regulatory shift comes as institutional interest in digital assets continues to grow and policymakers reassess how crypto should fit within the countryโs financial markets.
Japanese Finance Minister Satsuki Katayama first signaled the intent to bring crypto under the same umbrella as traditional finance assets in January, to ensure that citizens will โbenefit from digital and blockchain-based assets.โ
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The country is also planning to legalize the launch of cryptocurrency exchange-traded funds (ETFs) by 2028, according to a January report. Large financial conglomerates like SBI Holdings and Nomura are among the first companies expected to develop crypto-linked ETFs.ย
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