Why SBI is buying Bitbank, and why Korean banks are piling into crypto exchanges
SBI Holdings announced yesterday that it will acquire Japanese crypto exchange Bitbank for ¥46.7 billion ($289 million), making it a wholly owned subsidiary via SBI’s vehicle SBICAH.
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The ¥46.7 billion ($289 million) deal, closing October 2026, creates Japan's largest exchange by custody assets — ¥1.1 trillion across roughly 2.92 million accounts — as banks position for stablecoin legislation.
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