Woofun AI reports that the Japanese SBI Group announced on June 25, 2026, its acquisition of cryptocurrency exchange Bitbank for JPY 46.7 billion, equivalent to approximately $289 million. This transaction is scheduled for completion in October, a move designed to instantly elevate SBI to the largest cryptocurrency exchange group in Japan. Upon finalization, the conglomerate will manage roughly 2.92 million user accounts and control assets totaling around JPY 1.1 trillion, or about $6.8 billion.

Founded in 1999 as a subsidiary of the SoftBank Group before spinning off as a "comprehensive internet finance group," SBI has methodically expanded its blockchain footprint since 2016. The group's initial foray involved a partnership with Ripple to establish SBI Ripple Asia for cross-border payments, followed by the 2023 distribution of XRP to shareholders. In June 2025, SBI and Ripple signed a memorandum of understanding to issue the US dollar-denominated stablecoin RLUSD via SBI VC Trade, which received FSA approval in March of this year, alongside plans for Japan's first trust-based yen stablecoin, JPYSC.

SBI VC Trade has aggressively scaled through a series of strategic mergers and acquisitions over the last several years. The platform merged with TaoTao in 2020, integrated DMM Bitcoin resources by the end of 2024, and acquired BITPoint Japan in April of this year.

Woofun AI data shows that the Bitbank deal now completes a significant consolidation of SBI's exchange operations, solidifying its market dominance.

Beyond direct exchange ownership, the SBI ecosystem is expanding to include Web3 media outlet CoinPost, infrastructure firm HashHub, and Singapore-based exchange Coinhako, with the latter two currently in discussions. The group's investment portfolio spans major industry players including Ripple, Bithumb, Securitize, Kraken, and Circle. Operational diversity is further evidenced by ownership of market maker B2C2, custody provider SBI Digital Asset Holdings, and mining entity SBI Crypto.

SBI continues to explore adjacent financial instruments such as crypto investment trusts, blockchain bonds, and cryptocurrency payment cards to deepen its market penetration. As of the time of writing, the company holds a market capitalization of approximately JPY 1.78 trillion, representing roughly $11 billion. This aggressive expansion strategy marks a definitive shift in the Japanese digital asset landscape, positioning the financial institution as the undisputed leader of the nation's Web3 sector.