SBI Holdings eyes stake in crypto exchange Bitbank to build digital asset powerhouse
SBI Holdings plans to acquire a stake in crypto exchange Bitbank to expand its digital asset business and strengthen its market position.Summary
Japanese financial conglomerate SBI Holdings intends to acquire a stake in Bitbank, one of Japan's largest cryptocurrency exchanges, with the aim of making it a consolidated subsidiary. This move is part of SBI's strategy to enhance its cryptocurrency operations and prepare for potential regulatory shifts in Japan, where cryptocurrencies are being considered for classification as financial products. SBI has previously integrated another regulated exchange, Bitpoint, and is also expanding regionally with plans to acquire a majority stake in Singapore-based Coinhako. Additionally, SBI is partnering with Visa to launch credit cards that convert spending rewards into cryptocurrencies, allowing users to accumulate digital assets through daily purchases.
(Source：CoinDesk)