Tokyo-based financial conglomerate SBI Holdings has opened discussions to acquire a controlling stake in the cryptocurrency exchange Bitbank, signaling a further consolidation of Japan’s regulated digital asset trading platforms as the country prepares to bring crypto under its traditional securities framework.
SBI confirmed on Friday that 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, the company said. The announcement comes just weeks after SBI VC Trade absorbed Bitpoint Japan on April 1, with SBI VC Trade emerging as the surviving entity.
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Why SBI is moving aggressively into crypto exchanges
The proposed acquisition would give SBI a significantly larger share of Japan’s crypto exchange market at a major regulatory moment. Japan’s Cabinet approved a bill on April 10 to amend the Financial Instruments and Exchange Act and the Payment Services Act, a move designed to strengthen market fairness, transparency, and investor protection for digital assets.
Currently, crypto assets in Japan are regulated under the Payment Services Act, which treats them primarily as a means of payment. The proposed changes would shift crypto closer to the country’s traditional financial market framework, introducing stronger disclosure requirements, exchange oversight, and rules targeting unfair trading practices.
SBI said the potential Bitbank deal would help the group establish an “overwhelming position in the domestic cryptocurrency industry,” directly citing the planned regulatory shift as a strategic driver.
Bitbank’s position in Japan’s exchange market
Bitbank is one of Japan’s major crypto exchanges. According to data from CoinGecko, it holds the highest trust score among Japanese exchanges — a metric that evaluates legitimacy based on liquidity, trading activity, cybersecurity, and operational scale. In terms of daily trading volume, Bitbank ranks third behind bitFlyer and Coincheck.
An acquisition would add to SBI’s expanding digital asset footprint. The conglomerate previously invested $50 million in Circle’s IPO in June 2025 and has made strategic investments in other crypto-native companies, including Sygnum Bank and the exchange TaoTao, which later merged into SBI VC Trade.
What Japan’s regulatory shift means for the market
Japan’s move to bring crypto under the Financial Instruments and Exchange Act reflects a broader global trend of integrating digital assets into mainstream financial regulation. Japanese Finance Minister Satsuki Katayama signaled the intent in January, stating that the goal is to ensure citizens “benefit from digital and blockchain-based assets.”
The country is also planning to legalize cryptocurrency exchange-traded funds (ETFs) by 2028, according to a January report. Large financial conglomerates like SBI Holdings and Nomura are expected to be among the first to develop crypto-linked ETF products.
Cointelegraph reached out to SBI Holdings for comment on the proposed Bitbank acquisition and how Japan’s shifting crypto rules are affecting the group’s exchange strategy but had not received a response by publication.
Conclusion
The potential Bitbank acquisition underscores a clear trend: Japan’s crypto exchange market is consolidating around large, regulated financial players as the government moves to formalize digital asset rules. For SBI, the deal represents a strategic bet on becoming the dominant domestic platform ahead of a new regulatory era that could unlock broader institutional participation and pave the way for crypto ETFs.
FAQs
Q1: Why is SBI Holdings trying to acquire Bitbank?
SBI aims to strengthen its position in Japan’s crypto exchange market ahead of a major regulatory shift that will bring digital assets under the country’s securities laws. The acquisition would make SBI the dominant domestic player.
Q2: What is changing in Japan’s crypto regulations?
Japan’s Cabinet approved a bill in April 2026 to amend the Financial Instruments and Exchange Act and the Payment Services Act. Crypto assets will move from being regulated as a means of payment to a framework similar to traditional securities, with stronger disclosure, oversight, and anti-fraud rules.
Q3: When could Japan approve crypto ETFs?
Japan is planning to legalize cryptocurrency ETFs by 2028. Large financial groups like SBI Holdings and Nomura are expected to be among the first issuers.
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