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CoinWorld news: Japan’s financial services giant SBI Holdings has reached an agreement to acquire the cryptocurrency exchange Bitbank for approximately $289 million. The Tokyo bank first floated the idea in early last month as part of its broader strategy to expand its crypto business ahead of potential regulatory developments in Japan. SBI acquired the crypto exchange Bitpoint in 2022. According to CoinGecko data, Bitbank is one of the top ten cryptocurrency exchanges in Japan by trading activity, with 24-hour trading volume nearing $50 million. SBI said the acquisition is subject to regulatory approval and is expected to be completed in October.