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SBI Buys Bitbank for Crypto Scale
Description
SBI Holdings just paid $289 million to buy out Bitbank, Japan’s major crypto exchange, not for quick profits but to dominate a tightening market. The deal catapults SBI’s crypto custody assets to 1.1 trillion yen and adds nearly a million new customers, fueling their ecosystem play. With new regulations crushing smaller exchanges, SBI is positioning itself as the inevitable consolidator — and Architect Partners say the trend’s just beginning, with foreign firms likely to follow suit by buying licensed operations rather than building from scratch. This isn’t just a purchase — it’s a regulated foothold in Japan’s future crypto landscape.
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