According to Nikkei News, SBI Group announced the acquisition of Japanese cryptocurrency exchange Bitbank for 46.7 billion yen (289 million US dollars). SBI's cryptocurrency custody balance is expected to exceed 1 trillion yen (approximately 6.2 billion US dollars). SBI Holdings' subsidiary will acquire Bitbank shares from individual shareholders in August, and Bitbank will acquire shares held by Mixi and Ceres by the end of October. After the merger, the total number of accounts is about 2.92 million, and the total assets under custody are about 1.1 trillion yen. SBI Holdings disclosed in May that it is in talks for capital business cooperation regarding the subsidiary of Bitbank.
