Tokyo-based broker SBI Holdings submitted a letter of intent on May 1, 2026, to acquire a controlling stake in Bitbank, one of Japan's largest crypto exchanges, aiming to make it a consolidated subsidiary. The move is part of SBI Holdings' aggressive expansion strategy in the cryptocurrency sector, following its absorption of Bitpoint exchange, plans to acquire Singapore-based Coinhako announced in February 2026, and a Visa partnership for crypto rewards credit cards. The acquisition push comes as Japan's regulatory environment improves, with the cabinet approving a draft amendment in April 2026 that would classify cryptocurrencies as financial products under the Financial Instruments and Exchange Act, potentially taking effect in fiscal 2027. SBI Holdings is positioning itself to dominate Japan's crypto market ahead of these regulatory changes that would bring digital assets under the same framework governing stocks and securities.
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