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SBI Group will acquire Japanese crypto exchange Bitbank for approximately $289 million.

MeNews
ME News reports that on June 25 (UTC+8), SBI Group will acquire Japanese cryptocurrency exchange Bitbank for 46.7 billion yen (approximately 289 million USD). Through this acquisition, SBI's crypto custody balance is expected to exceed 1 trillion yen (approximately 6.2 billion USD). A subsidiary of SBI Holdings will acquire Bitbank shares from individual shareholders including founders in August, and then Bitbank will acquire shares held by existing shareholders Mixi and Ceres by the end of October. Foresight News previously reported that SBI and cryptocurrency exchange Bitbank were discussing capital and business cooperation. This transaction aims to make Bitbank a consolidated subsidiary of SBI, and the company plans to acquire its shares after completing due diligence and internal procedures. (Source: Foresight News)
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