What changes for Bitbank after SBI completes its takeover?

SBI Holdings has completed its takeover of Bitbank, making the Japanese crypto exchange a wholly owned subsidiary after the final share transactions were carried out on Oct. 1.

Summary

• SBI Holdings completed its takeover of Bitbank on Oct. 1, making the Japanese crypto exchange a wholly owned subsidiary.
• Bitbank completed the repurchase of shares held by MIXI and Ceres, closing the final transactions required under the acquisition.
• SBI VC Trade President Tomohiko Kondo has joined Bitbank's board, while Bitbank CEO Noriyuki Hirosue is set to become an outside director at SBI VC Trade.
• Bitbank said the ownership change will not affect its existing services, with customers able to continue using the exchange as before.

According to Bitbank's announcement on Wednesday, the exchange completed the repurchase of shares held by MIXI and Ceres, closing the series of transactions agreed with SBI Holdings earlier this year.

#ビットバンク は、SBIホールディングス株式会社による完全子会社化が完了しました。

あわせて、新たな経営体制についてお知らせします。

※ 暗号資産取引所「bitbank」のサービス内容に変更はありません。

今後ともビットバンクをよろしくお願いいたします。

詳細はこちら... --- ビットバンク Bitbank, inc. (@bitbank_inc) October 1, 2026

Bitbank said its existing services will continue without changes following the takeover. Customers can keep using the exchange under the same service arrangements.

The ownership change follows a multistep transaction that began after SBI and Bitbank entered formal discussions earlier this year. In June, crypto.news previously reported that SBI had signed agreements to fully acquire Bitbank and bring the exchange into its financial group.

Bitbank takeover has now completed its final transaction

SBI's board approved the definitive acquisition agreement in June after the two companies first disclosed talks over a capital and business alliance in May.

Under the transaction plan, SBI pursued the acquisition through its wholly owned unit SBICAH GK. The deal was valued at roughly ¥46.7 billion, including the planned share transfers and capital provided through a third party allotment.

The transaction was structured in several stages instead of a single share purchase.

SBICAH was first set to acquire 53,704 Bitbank shares from CEO Noriyuki Hirosue and other individual shareholders. Bitbank would then issue 48,952 new shares to the SBI unit through a third party allotment.

Funds from that transaction were intended to support Bitbank's repurchase of shares owned by MIXI and Ceres. Completion of those repurchases on Oct. 1 closed the remaining steps and left SBI Holdings as Bitbank's sole parent company.

Bitbank had already said in June that the ownership change would not affect its exchange services. Wednesday's announcement repeated that position after the deal formally closed.

The acquisition followed months of talks between the companies. SBI disclosed in May that it was considering buying Bitbank shares and making the exchange a consolidated subsidiary, subject to due diligence and internal approvals.

Bitbank entered those discussions after previously pursuing a possible public listing in Japan. MIXI had become one of its major shareholders following a capital and business alliance in 2021.

SBI and Bitbank change management after the acquisition

Bitbank has introduced a new management structure alongside the ownership change, bringing senior leadership from SBI's existing crypto exchange operation onto its board.

Tomohiko Kondo, president and representative director of SBI VC Trade, has joined Bitbank as a director. Hirosue will remain Bitbank's representative director, president and CEO while taking a planned outside director position at SBI VC Trade.

Kondo has led SBI VC Trade since June 2023 and became representative director and president of SBI Crypto Asset Holdings in June 2026. His other current positions include roles at SBI Liquidity Market, SBI XDC Network APAC, DeFimans and SBI Circle Holdings.

Three outside directors, Satoshi Takagi, Nobuhiro Kanayama and Masaya Kubota, have stepped down from Bitbank's board as part of the new structure.

Bitbank said it plans to use SBI Group's financial functions, customer network and other management resources as it develops its crypto exchange and digital asset businesses.

The two companies will now operate within the same group while retaining their respective exchange operations. SBI VC Trade already serves as one of SBI's main platforms for crypto trading, custody and digital asset services in Japan.

SBI VC Trade had expanded its domestic exchange presence before the Bitbank transaction. Bitpoint Japan was absorbed into SBI VC Trade in April 2026, putting another Japanese crypto trading operation under the group.

SBI has been building its digital asset business beyond exchanges

SBI's expansion has moved into stablecoins, institutional trading and tokenized assets alongside its exchange acquisitions.

In June, SBI VC Trade became the distribution platform for Ripple USD after RLUSD launched in Japan following regulatory approval. The dollar backed stablecoin became available to retail and institutional customers through the VCTRADE platform.

SBI has been developing yen based stablecoin products at the same time. Its JPYSC project uses SBI Shinsei Trust Bank for issuance, while SBI VC Trade provides distribution and other crypto related infrastructure.

The group has since tested uses for the yen stablecoin outside domestic trading. In September, SBI and Kyobo Life Insurance completed a cross border test involving representations of yen and won stablecoins.

The test used the Canton Network to handle transfers, foreign exchange, settlement, tracking and reconciliation without routing the transaction through the U.S. dollar. No institutional funds changed hands because test tokens were used during the trial.

SBI has pursued institutional crypto infrastructure outside Japan as well. In July, the financial group led a $76 million Series C funding round for EDX Markets, which said the capital would support expansion of its trading, clearing and settlement operations.

Within Japan, Bitbank brings an established exchange business into the same group as SBI VC Trade. Bitbank has offered spot crypto trading alongside other services, including its EPOS Crypto Card arrangement, which allows eligible users to settle monthly credit card bills using bitcoin held through Bitbank.

Following completion of the acquisition, Bitbank's new board consists of Hirosue, Naomichi Noda, Masaaki Kato, Masahiro Terada, Kondo and three outside directors serving on its audit and supervisory committee.

Bitbank said it will use SBI Group's financial capabilities, customer base and management resources to develop its digital asset operations and improve services for customers. Existing Bitbank services remain available following completion of the transaction.

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