SBI Holdings plans to acquire a controlling stake in Bitbank

Techub News, according to CryptoBriefing, Japanese financial services group SBI Holdings is in talks with cryptocurrency exchange Bitbank to acquire a controlling stake and make it a consolidated subsidiary. The company will proceed with the acquisition after completing due diligence, with the specific timing and structure yet to be determined. Bitbank is Japan's third-largest cryptocurrency exchange, and this month it just launched the country's first cryptocurrency-backed credit card. Against the backdrop of Japan's planned revisions to crypto regulations aimed at implementing stricter oversight, SBI has previously integrated BITPoint Japan. If this acquisition is completed, the two parties will form Japan's largest cryptocurrency asset platform group.