Japanese financial group SBI will acquire crypto exchange Bitbank for ¥46.7 billion ($289 million). After the transaction closes, Bitbank will become an SBI subsidiary, and the combined group’s crypto assets under custody are expected to total about ¥1.1 trillion ($6.2 billion), making it the largest crypto custody provider in Japan. The acquisition strengthens SBI’s position in Japan’s digital asset market. The deal will proceed through the required closing process before integration begins.
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