SBI Holdings moves to take stake in Bitbank as it builds a crypto powerhouse
SBI Holdings, the Tokyo-based financial conglomerate, has submitted a letter of intent to acquire shares in Bitbank — one of Japan’s largest cryptocurrency exchanges — with the aim of making the platform a consolidated subsidiary, the firm announced Friday. The move is the latest in SBI’s push to deepen its crypto capabilities and scale its digital-asset business.
SBI says the planned investment is part of a broader strategy to expand its crypto footprint and shore up its market position as Japan’s regulatory landscape evolves. Last month, Japan’s cabinet approved a draft amendment that would reclassify cryptocurrencies as financial products, bringing them under the Financial Instruments and Exchange Act used for securities. If the bill passes in the current Diet session, the new rules could take effect as early as fiscal 2027.
This is not SBI’s first consolidation in the sector. The group already absorbed Bitpoint, a regulated Japanese exchange that provides spot trading and has offered an on-chain bond program that pays rewards in XRP. Regionally, SBI disclosed plans in February to acquire a majority stake in Singapore-based Coinhako, a MAS-regulated digital-asset platform, part of its wider Asia expansion.
SBI is also moving into consumer-facing crypto products. In a separate Friday announcement the company said it has teamed up with Visa to launch credit cards that automatically convert spending rewards into crypto (BTC, ETH, or XRP), making it easier for users to accumulate digital assets through everyday purchases.
Taken together, the transactions and product rollouts signal SBI’s strategy to combine regulated exchange ownership, regional growth and consumer distribution to position itself as a dominant player in the emerging institutional and retail crypto markets — while preparing for tighter regulation at home.
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