SBI Goes Full Send on Bitbank, Bags Japan's XRP-Friendly Exchange for ¥46.7B 🏦

SBI Holdings, the Japanese financial conglomerate known for its decade-long partnership with Ripple on XRP-related initiatives, has signed an agreement to acquire crypto exchange Bitbank for approximately ¥46.7 billion ($288.65 million). The deal, announced Thursday, June 25, will be executed through SBICAH LLC, a 100 percent-owned subsidiary of SBI, giving SBI full ownership of the exchange once the transaction closes.

Under the terms, SBI Group will repurchase 53,704 shares from Bitbank's existing shareholders and acquire an additional 48,952 shares through a capital increase. The share transfer is expected to be completed in August 2026, with the remaining steps and capital increase slated for around October 2026. The transaction remains contingent on regulatory clearance, including approval from Japan's Fair Trade Commission.

SBI has been a longstanding promoter of Ripple-linked projects and XRP-based payment solutions as part of its broader digital asset strategy. The company recently launched the RLUSD stablecoin in Japan following regulatory approvals, adding to its suite of crypto offerings. The Bitbank acquisition is positioned to expand SBI's domestic crypto exchange operations and support its work on stablecoins and on-chain finance.

Bitbank operates as one of Japan's registered crypto exchanges and has been part of SBI's orbit through prior shareholdings. The full buyout consolidates SBI's control over the platform at a time when Japanese financial firms have been deepening their involvement in digital asset services. SBI stated that the acquisition will strengthen its crypto business and align with its mission to grow its exchange operations alongside stablecoin development and broader on-chain financial initiatives.