SBI Holdings Says $289 Million Bitbank Deal Will Make It Japan’s Largest Crypto Exchange

In brief

• SBI Holdings is buying Tokyo crypto exchange Bitbank for about $289 million, making it a wholly owned subsidiary.
• Combined with SBI VC Trade, it’ll hold $6.8 billion in assets and 2.92 million accounts.
• The deal still needs regulatory clearance and is expected to close around October.