Tag: Bitbank

  • Ripple Partner SBI Holdings Acquires Bitbank in $289M Deal to Expand Japan’s Crypto Market

    Ripple Partner SBI Holdings Acquires Bitbank in $289M Deal to Expand Japan’s Crypto Market

    Ripple’s long-term partner SBI Holdings has completed its acquisition of Japanese cryptocurrency exchange Bitbank in a deal worth 46.7 billion yen (around $289 million). The deal is expected to boost SBI’s position as a leader in the regulated digital asset market.

    The acquisition will be structured in multiple stages. SBI will first buy shares of Bitbank founder Noriyuki Hirosue and individual investors, and then increase its holdings by buying more from MIXI and Ceres later this year. Following the process, Bitbank will become a consolidated subsidiary of SBI Holdings.

    SBI Expands Its Digital Asset Leadership

    The acquisition significantly boosts SBI’s footprint in the regulated cryptocurrency market in Japan. Together, the two companies would handle approximately 2.92 million customer accounts and over 1.1 trillion yen ($7 billion) in digital assets under custody, surpassing some key domestic rivals.

    The agreement is part of a broader pattern of traditional financial institutions gaining more exposure to digital assets as regulatory clarity improves. It also shows the increasing trust in financial services and financial asset tokenization.

    Ripple Partnership Could Benefit from Larger Platform

    SBI Ripple Asia, which was founded in 2016, was created to help grow Ripple’s blockchain payment capabilities in the Asia-Pacific region and Japan, the companies said. SBI has long been promoting the use of XRP, with its regulated exchange SBI VC Trade being one of the earliest platforms to support XRP trading and later add Ripple-linked stablecoin RLUSD.

    SBI Chairman and CEO Yoshitaka Kitao has also been a strong supporter of the partnership and is a former board member of Ripple and a long-time proponent of blockchain-based payments.

    While SBI has not announced immediate operational changes for Bitbank, the increased adoption could lead to more opportunities for introducing XRP, RLUSD, and Ripple’s payment network in Japan in the future.

    The announcement comes after another groundbreaking blockchain project led by SBI-backed gaming company gumi, which revealed an XRP-focused plan totaling $86 million, featuring the $18.3 million crypto investment fund and additional institutional blockchain infrastructure investments.

    With the Bitbank acquisition, Japan’s digital asset market is further solidifying its reputation as one of the most regulated and blockchain-friendly markets globally, with its institutional backing on the rise.

    FAQs

    1. Why did SBI acquire Bitbank?
    SBI acquired Bitbank to strengthen its position in Japan’s regulated cryptocurrency market. The deal expands its customer base, increases assets under custody, and enhances its digital asset ecosystem.

    2. How large will SBI’s crypto business become after the acquisition?
    Following the acquisition, SBI is expected to manage around 2.92 million customer accounts and more than 1.1 trillion yen (over $7 billion) in digital assets under custody, making it one of Japan’s largest crypto operators.

    3. How is Ripple connected to SBI Holdings?
    SBI and Ripple have worked together since launching SBI Ripple Asia in 2016 to promote blockchain-based cross-border payments. SBI has consistently supported XRP adoption through its regulated exchange, SBI VC Trade.

    4. Will Bitbank users see immediate changes?
    SBI has not announced any immediate operational or platform changes for Bitbank. The exchange will continue operating while becoming a consolidated subsidiary of SBI Holdings.

    5. What does this acquisition mean for XRP and Japan’s crypto market?
    The larger SBI ecosystem could create additional opportunities for XRP, RLUSD, and Ripple’s payment infrastructure to gain wider institutional adoption. It also reinforces Japan’s reputation as one of the world’s most regulated and crypto-friendly markets.

  • SBI Holdings’ ¥46.7B Bitbank Acquisition Targets Japan’s Stablecoin Market and Crypto Growth

    SBI Holdings’ ¥46.7B Bitbank Acquisition Targets Japan’s Stablecoin Market and Crypto Growth

    SBI Holdings has agreed to acquire Japanese crypto exchange Bitbank for ¥46.7 billion (approximately $289 million) through investment vehicle SBICAH GK. The financial group expects to complete the transaction by October 2026, pending clearance from the Japan Fair Trade Commission.

    SBI signed binding agreements on June 24 and 25. The acquisition provides access to 960,000 customer accounts and ¥570 billion in digital assets under custody.

    Bitbank Adds a Regulated Yen Stablecoin Gateway

    SBI has been developing a digital asset platform covering trading, custody, tokenization, and payments. Bitbank adds a regulated retail exchange and a direct entry point into Japan’s crypto market. The ¥46.7 billion price equals about eight times Bitbank’s revenue, despite the exchange reporting a net loss in its latest fiscal year, drawing scrutiny.

    People familiar with SBI’s strategy say the price reflects more than Bitbank’s revenue or customer base; the exchange provides a licensed distribution channel for yen-denominated stablecoins. SBI Shinsei Trust Bank issues JPYSC, a stablecoin linked to the Japanese yen. Wider circulation requires a registered exchange with established compliance systems, strong security, and direct customer access.

    Acquiring Bitbank allows SBI to expand JPYSC faster than building and licensing a new exchange. Bitbank holds Kanto Local Finance Bureau registration No. 00004 and operates within Japan’s self-regulatory framework through the Japan Virtual and Crypto Assets Exchange Association.

    Two-Stage Deal Separates the Share Purchases

    SBI will complete the acquisition in two phases. In August, the group will buy shares from individual investors, including Bitbank founder and CEO Noriyuki Hirosue. By the end of October, Bitbank plans to repurchase and retire shares owned by MIXI and Ceres, which together control about half of the exchange.

    The second stage uses a company buyback rather than a direct purchase by SBI, so the acquisition involves two completion events with separate conditions. SBI expects the transaction to have only a minor effect on its consolidated fiscal 2027 results, indicating a focus on strategic platform development rather than immediate earnings growth.

    The group stated that the acquisition would create new business opportunities in stablecoins, digital assets, and on-chain finance, with Bitbank’s infrastructure providing an operating base for that expansion.

    Japan’s Compliance Shift Drives Consolidation

    The acquisition comes as Japan prepares to place crypto assets under the Financial Instruments and Exchange Act. The lower house passed the relevant legislation on June 11. The proposed framework raises capital, custody, and disclosure standards for crypto exchanges while lowering the crypto gains tax to 20%.

    The legislation also creates a possible route for spot Bitcoin, Ether, and XRP exchange-traded funds. Rising compliance costs could pressure smaller operators. Architect Partners estimates that about 90% of Japan’s 27 licensed crypto exchanges remain unprofitable, with as many as half expected to merge or leave the market.

    If the deal closes, SBI projects that the combined group will control about ¥1.1 trillion in crypto assets across 2.9 million accounts, surpassing bitFlyer and Coincheck by asset value. The enlarged operation would include Japan Digital Asset Trust, Bitbank’s retail platform, and its altcoin trading business. SBI plans to retain Bitbank as a separate exchange brand.

    What’s Next?

    SBI Holdings’ ¥46.7 billion Bitbank acquisition strengthens its regulated crypto infrastructure, expands customer access, and supports wider yen stablecoin distribution. As Japan raises compliance standards, the deal positions SBI for further growth across trading, custody, payments, and on-chain finance.

  • Bitcoin ETF Outflows Hit $469M, SHIB Reserves Surge to 80.5T, and $10B BTC Options Near Expiry

    Bitcoin ETF Outflows Hit $469M, SHIB Reserves Surge to 80.5T, and $10B BTC Options Near Expiry

    The cryptocurrency market witnessed a series of significant developments on June 25, 2026. Spot Bitcoin ETFs recorded $469.08 million in net outflows, led by BlackRock’s IBIT, while SHIB exchange reserves surged to 80.5 trillion tokens. Meanwhile, SBI Group announced a $289 million acquisition of Japanese exchange Bitbank, and $10 billion in Bitcoin options are set to expire this week. Indonesia also introduced mandatory certification for crypto influencers.

    Bitcoin ETFs See $469 Million Outflows

    According to SoSoValue, the Bitcoin spot ETF market experienced a total net outflow of $469.08 million yesterday. The Grayscale Bitcoin Mini Trust ETF BTC recorded the highest net inflow at $23.56 million, bringing its historical total to $2.38 billion. On the other hand, BlackRock’s IBIT led outflows with $239.29 million, while its historical net inflow stands at $61.48 billion. The total net asset value of Bitcoin spot ETFs is $73.87 billion, representing an ETF net asset ratio of 6.04% and a historical cumulative net inflow of $52.75 billion.

    SHIB Exchange Reserves Spike to 80.5 Trillion Tokens

    The SHIB market is seeing a dramatic shift in investor sentiment. Large holders have begun transferring funds to centralized exchanges, interrupting a months-long accumulation trend. CryptoQuant data shows the Exchange Reserve indicator surged to 80.5 trillion SHIB over a few days. This expanded available supply drove the token’s price down to approximately $0.0000044. Daily net inflows into exchanges reached 749.8 billion SHIB, signaling strong selling pressure.

    SBI Group Acquires Bitbank for $289 Million

    SBI Group announced the acquisition of Japanese cryptocurrency exchange Bitbank for ¥46.7 billion (approximately $289 million). This move is expected to push SBI’s crypto custody balance above ¥1 trillion (about $6.2 billion), making it the largest crypto business in Japan. A subsidiary of SBI Holdings will acquire Bitbank shares from founders and other individual shareholders in August. Combined with SBI VC Trade’s accounts (as of April), the merged entity will have approximately 2.92 million total accounts and combined custodial assets of roughly ¥1.1 trillion.

    $10 Billion Bitcoin Options Expiry Approaches

    According to Bloomberg, Deribit will see approximately $10 billion in notional value of Bitcoin options expire on Friday, accounting for about 37% of current total open interest. The put-to-call ratio stands at 0.83, indicating bullish bets still dominate, but most call options are out-of-the-money. Puts are concentrated in the $60,000–$65,000 and $70,000–$75,000 ranges, suggesting bearish positions are more likely to profit. Jean-David Pequignot, Deribit’s Chief Business Officer, noted that this options portfolio, positioned for higher medium-term prices, is now under test amid falling spot prices.

    Indonesia Mandates Certification for Crypto Influencers

    Indonesia’s Financial Services Authority (OJK) issued Regulation No. 6 of 2026, requiring individuals who recommend cryptocurrencies to obtain competency certification unless they already hold a relevant license. The regulation limits influencers to promoting only digital assets listed on authorized exchanges. Any digital asset service provider featured in promotional content must hold the necessary regulatory license. Marketing campaigns must be conducted through regulated financial services businesses, which remain responsible for the promotional material.