The Nfts space continues to evolve rapidly, with recent developments highlighting both opportunities and challenges for market participants. Understanding these dynamics is essential for anyone following this sector.
SBI Holdings has entered into agreements to bring crypto exchange Bitbank into the SBI Group as a wholly-owned subsidiary, with a total acquisition cost of 46.7 billion yen, equivalent to approximately $289 million, according to SBI’s announcement on June 25. The transaction will be executed through SBI Crypto Asset Holdings GK (SBICAH), a wholly-owned subsidiary of SBI Holdings, and is expected to be completed around October 2026. Bitbank stated that its current services will not be affected, and customers can continue to use the platform as usual.
Deal Details and Verification SBI stated that its board of directors approved the transaction at a meeting on June 25, 2026, and concurrently signed a basic agreement with Bitbank, CEO Noriyuki Hirosue, MIXI, and Ceres regarding the series of transactions to make Bitbank a wholly-owned subsidiary through SBICAH. SBICAH is a wholly-owned subsidiary of SBI Holdings. On the same day, SBI also signed a share transfer agreement with Hirosue and several other individual shareholders to acquire Bitbank shares.
The deal is structured in multiple steps. SBICAH will first acquire common shares of Bitbank for cash. Afterward, SBICAH will participate in a new share issuance executed by Bitbank through a third-party allotment.
Bitbank plans to use the proceeds from this capital increase to repurchase all shares held by MIXI and Ceres as treasury stock. The total acquisition cost announced by SBI is 46.7 billion yen, including share transfer costs and the payment for the capital increase. SBICAH expects to acquire 53,704 shares through the share transfer and 48,952 shares through the capital increase.
After these two steps, SBI will indirectly hold 102,656 shares of Bitbank, representing 68.76% of the voting rights. When the entire transaction is completed, including Bitbank’s repurchase of shares from MIXI and Ceres, SBI’s indirect voting right ratio is expected to reach 100%. Detail of costs and ownership ratios in the Bitbank transaction.
Source: SBI Holdings According to the schedule, the share transfer is expected to take place around August 2026. The capital increase, Bitbank’s treasury stock repurchase, and the transaction closing date are all planned for around October 2026. The completion of the deal remains subject to the business combination review by the Japan Fair Trade Commission and other conditions.
SBI stated that the impact on its consolidated results for the fiscal year ending March 31, 2027, is expected to be minor. Why the Deal Matters The deal brings a licensed domestic crypto exchange into the ecosystem of one of Japan’s major financial groups. For SBI, Bitbank helps directly expand its presence in digital asset trading infrastructure, where licensing, yen liquidity, custody systems, and compliance capabilities hold strategic value.
SBI said that after combining the figures of SBI VC Trade and Bitbank as of April 30, 2026, the group expects to have approximately 1.1 trillion yen in crypto ass
As the Nfts landscape matures, stakeholders should monitor regulatory developments, technological advancements, and market sentiment. The intersection of these factors will likely shape the trajectory of the industry in the months ahead.
