SBI Holdings has opened formal capital and business alliance talks with Bitbank Inc. The Japanese financial group wants to make the country’s third-largest crypto exchange a consolidated subsidiary.

The disclosure came on May 1, 2026, weeks after SBI merged SBI VC Trade with Bitpoint Japan. That earlier deal expanded its crypto footprint inside Japan.

If completed, the new deal would lift the SBI group above bitFlyer and Coincheck by combined trading volume. That outcome would make SBI the largest exchange operator in Japan’s regulated market.

Sota Watanabe, chief executive of Startale Group, framed the move as a turning point for the sector.

SBI plans to buy bitbank, the 3rd largest crypto exchange in Japan. Once the acquisition is successful, SBI is going to be the largest crypto exchange in Japan,” he said.

Japan’s crypto sector has been consolidating as stricter rules raise capital and compliance demands. SBI booked record crypto profits of ¥89.6 billion ($560.89 million) in the fiscal year ended March 2026.

Recent product launches include the JPYSC yen-backed stablecoin, crypto-collateral lending, and a Visa partnership.

The bid extends chief executive Yoshitaka Kitao’s plan to fuse traditional finance with blockchain. SBI holds about a 9% equity stake in Ripple. Its SBI Ripple Asia joint venture pushes XRP adoption across the region.

SBI Ripple Asia is a joint venture between SBI Holdings and Ripple, running since 2016

SBI owns about 9% of Ripple

A decade of groundwork is why the regulatory approval moved through so fast
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Compliance scrutiny remains part of the picture. SBI Securities, the group’s brokerage arm, was sanctioned in early 2024 over IPO share-price practices. The matter drew a temporary client-solicitation halt from Japanese regulators.

Bitbank was founded in 2014 and licensed by Japan’s Financial Services Agency in 2017. It has not reported a hacking incident since launch.

Mixi acquired about 26.2% of the operator in 2021 through a roughly ¥7 billion ($46.2 million) alliance. The firm later partnered with Sumitomo Mitsui Trust on digital asset custody.

SBI has not disclosed valuation, equity ratio, or completion timing for the bitbank stake.

Any agreement will require due diligence and regulatory clearance. The firm previously acquired TaoTao before relisting XRP, hinting at a familiar playbook for absorbing Japanese exchanges.

The post Ripple Backer SBI Opens Bitbank Talks, Eyes Japan’s Largest Crypto Exchange appeared first on BeInCrypto.

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