SBI Holdings, a leading Japanese financial conglomerate, is poised to acquire a stake in Bitbank, a prominent cryptocurrency exchange in the country. The acquisition is part of the company's strategy to bolster its presence in the digital asset market and prepare for potential regulatory changes in Japan.
SBI Holdings has submitted a letter of intent to purchase shares of Bitbank, with the aim of making it a consolidated subsidiary. This move follows the company's recent absorption of Bitpoint, a regulated Japanese crypto exchange. Additionally, SBI Holdings has announced plans to acquire a majority stake in Coinhako, a digital asset platform based in Singapore, and has partnered with Visa to launch credit cards that allow users to earn cryptocurrency rewards.