SBI Holdings has entered formal discussions with Bitbank to form a capital and business alliance. The planned deal would make Bitbank a consolidated subsidiary of the Japanese financial giant.
SBI said it plans to acquire shares after completing due diligence and securing internal approval. The exact timing, structure, and method of acquisition are still up for discussion and will be decided later. This move follows SBI Group’s absorption of Bitpoint Japan through a merger with its subsidiary SBI VC Trade in April 2026. It suggests SBI is moving fast to expand its crypto exchange footprint.
Japan is currently reviewing how crypto assets fit under the Financial Instruments and Exchange Act. That review could introduce tighter rules for exchanges and crypto investment products.
Bitbank’s IPO plans come into focus
Bitbank had earlier prepared for a potential listing on the Tokyo Stock Exchange by mid-2025. The company also raised around 7 billion yen in a capital and business alliance with Mixi back in 2021. Mixi became a major shareholder, holding a 26.2% stake. The SBI proposal now raises questions about Bitbank’s listing plans and future ownership structure.
Bitbank expands into crypto payments
Bitbank has also been pushing further into crypto-linked payment services. It recently launched the “EPOS Crypto Card for Bitbank” in partnership with EPOS Card, which is the fintech arm of Marui Group.
The card lets users pay their monthly credit card bills using bitcoin held on Bitbank. It also offers 0.5% cashback in bitcoin, ether, or the exchange’s own Aster token. Bitbank claims the card is the first in Japan to allow credit card bills to be settled directly from crypto exchange balances. The service may add more crypto payment options later.
A potential SBI deal would combine Bitbank’s exchange brand and payments push with SBI’s broader financial network. Bitbank also reports zero hacking incidents since its launch, which could make it more attractive to a large financial group like SBI.
