SBI to Acquire Bitbank for $289 Million, Set to Become Japan’s Largest Crypto Custodian

TLDR: SBI will acquire Bitbank for ¥46.7 billion ($289 million), making it a consolidated subsidiary of SBI Group. Combined custody assets from SBI VC Trade and Bitbank are projected to reach ¥1.1 trillion ($6.2 billion). The merged entity will oversee roughly 2.92 million accounts, the largest crypto account base in Japan. SBI’s combined assets will [...]

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