Japan's XRP Banking Partner SBI Holdings Signs Deal To Complete Bitbank Buyout

SBI Holdings, Ripple’s XRP banking partner in Japan, has signed the deal to purchase crypto exchange Bitbank for around ¥46.7 billion ($288.65 million). On Thursday, June 25, the Japanese financial behemoth announced that it would buy Bitbank using its 100 percent-owned subsidiary, SBICAH LLC. As part of the transaction, SBI will have a 100% stake in the exchange once all related steps are finalized.

For XRP supporters, this acquisition is important as it builds on the efforts of a prominent crypto venture in Japan. SBI Holdings has been pushing Ripple-related projects and XRP payment solutions in its overall digital asset strategy for a decade. Recently, the SBI Group launched the RLUSD stablecoin in Japan after regulatory approvals.

The Bitbank deal involves SBI Group buying back 53,704 shares from existing shareholders of Bitbank and purchasing another 48,952 shares as part of a capital increase. The transfer of shares is expected to be completed in August 2026, with remaining steps and capital increase finalized around October 2026. The deal is contingent on regulatory clearance, such as from Japan’s Fair Trade Commission.

According to SBI, the Bitbank deal will enhance its crypto business in Japan. The company confirmed it aims to grow its crypto exchange business and develop stablecoins, on-chain finance, and other opportunities. This buyout follows the debut of its yen-backed JPYSC stablecoin on Tuesday.

SBI Group stated: “By welcoming Bitbank into our group, our group will mutually utilize the customer base, service development capabilities, security and compliance systems, and management resources of both companies.”

According to data from April 2026, the joint SBI and Bitbank VC Trade will operate approximately ¥1.1 trillion worth of customer assets and support roughly 2.92 million crypto accounts. This would rank the group as the leader of Japanese crypto exchanges in terms of assets under management, with the highest number of crypto exchange accounts in the country.

The XRP-linked conglomerate also recently introduced Solana trading and custody services. Acquiring Bitbank could help expand these services and add support for other cryptocurrencies.

Source: https://coingape.com/japan-xrp-banking-partner-sbi-holdings-signs-deal-to-complete-bitbank-buyout/