SBI Holdings Acquires Bitbank Shares

SBI Holdings Accelerates Bitbank Acquisition Talks

Japanese financial giant SBI Holdings has accelerated talks to acquire shares in the crypto exchange Bitbank and plans to make it a consolidated subsidiary. SBI President Yoshitaka Kitao announced on Friday that they have submitted a letter of intent for the share acquisition and have begun negotiations with Bitbank for capital partnership and collaboration. The company aims to complete the share acquisition after due diligence is finished and internal procedures are fulfilled. The negotiations will also address the timing and structure of the acquisition. This move is part of SBI's strategy to expand its footprint in the crypto space.

Bitbank's Hack-Free 10-Year Security Record

Bitbank stands out as a platform that has not experienced any hack attacks since its establishment in May 2014, making bold claims in security. With crypto assets coming under the Financial Instruments and Exchange Act, SBI aims to strengthen its position in the Japanese crypto market by incorporating Bitbank. The group is consolidating its activities in its internal crypto exchange arm SBI VC Trade, having included Bitpoint Japan into this unit last month, focusing on simplifying operations and increasing profitability.

Bitbank's Innovative Bitcoin Credit Card Feature

Bitbank announced a market first this week: Users can issue a credit card that allows paying bills using BTC and other crypto assets in their exchange balances; it provides %0,5 crypto cashback on monthly spending. This feature will expand the user base by increasing crypto integration in daily use.

Japanese Crypto Consolidation and BTC Technical Outlook

SBI's this step is a sign accelerating the consolidation wave in the Japanese crypto sector. Under regulatory pressure, traditional finance players are gaining competitive advantage by integrating reliable exchanges. The strategic sale of established players like Bitbank reflects the market's maturation process and strengthens investor confidence. The BTC market is showing a sideways trend in parallel with these developments: Price $78,064.37 (+1.24% 24s), RSI 60.79. Supports: S1 $71,926 (strong), S2 $77,628. Resistances: R1 $79,422 (very strong), R2 $91,119. Supertrend bearish, EMA20 $76,021.