SBI Buys Bitbank: Is Japan Building a Bank-Run Crypto Giant?

SBI Buys Bitbank: Is Japan Building a Bank-Run Crypto Giant? examines SBI Holdings’ plan to acquire Bitbank outright, aiming to combine brokerage infrastructure with bank-grade compliance and crypto-native systems. The article explains that SBI already spans brokerage, banking, and digital assets via SBI VC Trade, while Bitbank is positioned with a sizable Japan-focused account base and order flow. It situates the deal in Japan’s regulatory framework for crypto-asset exchanges under the Payment Services Act, overseen by the Financial Services Agency and self-regulated standards administered by the JVCEA. It also highlights antitrust review: the Japan Fair Trade Commission must approve significant combinations, and SBI’s filing flags an expected completion around October 2026. SBI states that, aggregating SBI VC Trade and Bitbank figures as of April 30, 2026, the combined entity would reach about 1.1 trillion yen in assets under custody and 2.92 million accounts, a claim by the buyer. Until closing, the article expects business as usual with occasional operational notices.