SBI Holdings plans to acquire shares of Bitbank to build a strong digital asset nation

Crypto World News: Japanese financial giant SBI Holdings plans to acquire shares of one of the country’s largest cryptocurrency exchanges, Bitbank, and has submitted a letter of intent to Bitbank with the goal of turning it into a wholly owned subsidiary. SBI stated that this move is part of its effort to expand its crypto business footprint and strengthen its market position, especially in the context of potential regulatory changes in Japan. Last month, the Japanese Cabinet approved a draft bill classifying cryptocurrencies as financial products, which, if passed in the current parliamentary session, could take effect as early as fiscal year 2027. SBI has previously acquired the regulated Japanese crypto exchange Bitpoint and plans to acquire a majority stake in the Singapore-based Coinhako platform. Additionally, SBI has partnered with Visa to launch a credit card that automatically converts spending rewards into cryptocurrencies (BTC, ETH, or XRP), enabling users to accumulate digital assets through everyday purchases.

BTC-0.22%
ETH-0.43%
XRP-0.21%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin