SBI Holdings officially turned Bitbank into a wholly owned subsidiary on October 1, 2026. The ¥46.7 billion acquisition involved share transfers as well as new capital allocation. The process reached completion when Bitbank repurchased the remaining shares from MIXI and Ceres, concluding an extensive series of deals initiated earlier this year.
The consolidation reshapes the ownership structure without impacting customer services.
Executive Reshuffle and Boardroom Exchange
SBI’s business unit, SBICAH GK, purchased 53,704 Bitbank shares directly from CEO Noriyuki Hirosue and several other shareholders. As a follow-up step, Bitbank issued 48,952 new shares allocated to SBICAH via a third-party allotment. Following SBI Group’s takeover, three external directors stepped down from Bitbank’s board: Satoshi Takagi, Nobuhiro Kanayama, and Masaya Kubota.
Despite relinquishing equity control, Noriyuki Hirosue remains in his role, continuing as representative director, president, and CEO of the Bitbank exchange. He has also taken on a new post as an external director at SBI VC Trade. This executive exchange runs both ways: Tomohiko Kondo, who has led SBI VC Trade as president since June 2023, has now joined Bitbank’s board of directors. All trading services for Bitbank customers continue to operate as usual.
Exchange Deals and Stablecoin Expansion
The Bitbank acquisition extends SBI’s crypto investment spree throughout 2026. Six months earlier in April, the conglomerate completed the absorption of Bitpoint Japan into SBI VC Trade. That domestic consolidation moved in parallel with global expansion: in July, SBI led a $76 million Series C funding round for EDX Markets, a digital asset exchange tailored for institutional investors.
Alongside acquiring crypto exchanges, the firm broadened its token infrastructure trials. In September 2026, SBI partnered with Kyobo Life Insurance to complete a cross-border remittance pilot. The project used yen- and won-pegged stablecoin representations running on the Canton Network. In Japan’s domestic market, SBI VC Trade secured official regulatory clearance to distribute Ripple USD (RLUSD) stablecoins.
A New Chapter for the Japanese Market
Full control over Bitbank solidifies SBI Group’s position in Japan’s digital asset market. Retail clients are now witnessing a domestic crypto landscape gradually transitioning from fragmented independent exchanges toward centralized strength in the hands of traditional financial institutions.
Reported via crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
