SBI Holdings Seeks Bitbank Stake to Make Exchange a Subsidiary

SBI Holdings opened talks to buy Bitbank shares and make the Japanese crypto exchange operator a consolidated subsidiary. Yoshitaka Kitao said SBI has submitted a letter of intent, started discussions on a capital and business alliance, and plans to proceed after due diligence and internal procedures. SBI said the move would strengthen its position in Japan’s crypto market as crypto assets move toward inclusion under the Financial Instruments and Exchange Act.

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