SBI completes Bitbank takeover and links exchange leadership

SBI Holdings completed its acquisition of Bitbank on 1 October, adding the Japanese crypto exchange to the same group as SBI VC Trade. Bitbank confirmed that its final share repurchases from MIXI and Ceres had been executed and that it had become wholly owned by SBI. It also said the ownership change had no effect on the existing bitbank service.[1]

The completed transaction follows the agreement announced on 25 June. SBI’s acquisition vehicle bought shares from individual shareholders and subscribed for new Bitbank shares, with Bitbank using the resulting funds to repurchase the corporate shareholders’ holdings. SBI’s original disclosure set the combined acquisition cost at ¥46.7 billion, covering the share purchase and capital increase.[2]

Board links create a route for coordination

SBI VC Trade president Tomohiko Kondo has joined Bitbank’s board. Bitbank chief executive Noriyuki Hirosue was also expected to become an outside director of SBI VC Trade, according to the completion notice. Hirosue remains Bitbank’s chief executive in the disclosed management structure.[1]

Those links provide a practical way to coordinate service development, security and compliance resources across the businesses. SBI identified those areas, alongside the respective customer bases and potential stablecoin services, as reasons for the acquisition. The investment case is consequently broader than simply adding another exchange brand.[1][2]

The scale figures describe an earlier snapshot

The approximately ¥1.1 trillion of custody assets and 2.92 million crypto accounts cited with the transaction came from a simple addition of SBI VC Trade and Bitbank figures as at 30 April 2026. They are dated business totals, rather than a measurement taken after closing. The account figure also permits overlap between the two platforms and should not be described as 2.92 million distinct customers.[2]

That matters when judging the economics. Custody values can move with crypto prices as well as deposits and withdrawals. An account total reveals little about trading frequency, customer overlap or revenue per active account. The useful follow-up measures are therefore activity, revenue, retained balances and the cost of serving the enlarged group.[2]

For customers, the immediate position is continuity: Bitbank’s notice says its service remains available as before. A common application, order book or fee schedule would be a separate operational change requiring its own terms and timetable. Completion secures SBI’s ownership and establishes management links; subsequent disclosures will show how far the group combines the exchanges’ capabilities.[1]

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