Japan’s SBI Holdings has signed a definitive agreement to acquire 100% of cryptocurrency exchange Bitbank. The deal is valued at approximately ¥46.7 billion, or around $288.65 million.
SBI Holdings, one of Ripple’s most prominent financial partners in Japan, expects to complete the acquisition process by October 2026, subject to regulatory approval.
SBI Holdings Moves to Complete Bitbank Acquisition
On Thursday, June 25, SBI Holdings announced that its wholly owned subsidiary, SBICAH LLC, would carry out the Bitbank acquisition.
Once the transaction and related capital increase are completed, SBI will control the entire cryptocurrency exchange.
The deal includes the purchase of 53,704 Bitbank shares from existing shareholders. SBI will also acquire another 48,952 shares through a planned capital increase.
The initial share transfer is expected to be completed in August 2026. The remaining transaction procedures are scheduled to conclude around October 2026.
However, the acquisition must first receive the necessary regulatory approvals, including clearance from Japan’s Fair Trade Commission.
Why the Deal Matters for the XRP Ecosystem
The Bitbank acquisition is particularly significant for XRP supporters because SBI Holdings has maintained a close relationship with Ripple for many years.
The Japanese financial group has actively promoted XRP-based payment services and Ripple-related projects as part of its broader digital asset strategy.
SBI has also expanded its involvement in stablecoins. The company recently introduced Ripple’s RLUSD stablecoin in Japan after receiving regulatory approval.
By acquiring Bitbank, SBI could strengthen the infrastructure supporting its cryptocurrency, blockchain and digital payment services.
SBI Seeks to Expand Its Japanese Crypto Business
SBI Holdings said the acquisition would support the expansion of its cryptocurrency exchange operations in Japan.
The company plans to develop additional opportunities in areas such as stablecoins, on-chain finance, cryptocurrency custody and digital asset trading.
The Bitbank transaction follows the recent launch of JPYSC, SBI’s Japanese yen-backed stablecoin.
According to SBI, combining the two businesses will allow the group to benefit from Bitbank’s customer base, security systems, compliance operations and service development capabilities.
SBI also expects both companies to share management resources and technical expertise.
Combined Group Could Become Japan’s Largest Crypto Platform
Based on April 2026 figures, the combined SBI VC Trade and Bitbank businesses would manage approximately ¥1.1 trillion in customer assets.
The merged operations would also serve around 2.92 million cryptocurrency accounts.
SBI believes these figures would make the group Japan’s largest cryptocurrency exchange operator based on assets under management.
The combined business could also have the highest number of registered crypto exchange accounts in the country.
Bitbank Deal Could Support Further Crypto Expansion
SBI Holdings has recently expanded its cryptocurrency services beyond XRP.
The group has introduced Solana trading and custody services, strengthening its presence across a wider range of blockchain networks.
Acquiring Bitbank could allow SBI to expand these services further while adding support for more digital assets.
The deal reflects SBI’s wider strategy of building a major regulated cryptocurrency ecosystem in Japan. It also reinforces the group’s position as one of the country’s most influential financial supporters of Ripple and XRP.
