SBI Completes Full Acquisition of Bitbank for 4.67 Billion Yen

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SBI Holdings has completed its full acquisition of Bitbank for 4.67 billion yen, according to crypto exchange news. The transaction includes share repurchases from MIXI and Ceres, making Bitbank a 100% indirect subsidiary. CEO Noriyuki Higashimatsu remains in his position, and services continue uninterrupted. The exchange aims to expand its digital asset business leveraging SBI’s financial strength and customer base. Security remains a top priority, particularly in light of past exchange hacking incidents.

ChainCatcher report: Japan’s licensed crypto exchange Bitbank has announced that SBI Holdings has completed its full subsidiary acquisition. Following Bitbank’s repurchase of shares from MIXI and Ceres, all previously planned transactions have been finalized, making Bitbank a wholly owned indirect subsidiary of SBI Holdings. The total consideration for the share acquisition and capital increase disclosed by SBI earlier amounts to approximately JPY 46.7 billion. Bitbank’s CEO, Noriyuki Hirose, remains in his position. The company stated that its existing exchange services will not be affected by this transaction and that it will further expand its digital asset business by leveraging SBI’s financial capabilities, customer base, and resources.

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