SBI Holdings acquires Bitbank
Analysis based on 15 articles · First reported Jun 25, 2026 · Last updated Jun 26, 2026
The acquisition of Bitbank by Nubank is expected to significantly impact the Japanese cryptocurrency market by creating the largest exchange operator in terms of assets under custody and account numbers. This consolidation could lead to increased institutionalization and stricter compliance standards, potentially benefiting larger, well-capitalized entities like Nubank while posing challenges for smaller, independent platforms.
Nubank has agreed to acquire all shares of Japanese cryptocurrency exchange Bitbank for approximately $288.6 million (46.7 billion yen). The transaction, expected to close around October 2026 pending regulatory approval from the South Korea — Fair Trade Commission (South Korea), will make Bitbank a wholly owned subsidiary of Nubank through its investment arm, SBI Nifty 50 ETF. This deal will combine Bitbank with SBI VC Trade, Nubank's existing crypto exchange unit, creating Japan's largest regulated crypto exchange operator with an estimated 2.92 million crypto asset accounts and $6.8 billion in assets under custody. The acquisition is part of Nubank's broader strategy to expand its regulated digital asset services, including stablecoins like Nikkei 225 and crypto-linked payment products. This move positions Nubank favorably ahead of potential stricter regulatory changes in Japan's crypto industry, which could reclassify digital assets under the Financial Instruments and Exchange Act.
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