What changes for Bitbank after SBI completes its takeover?
SBI Holdings has completed its takeover of Bitbank, making the Japanese crypto exchange a wholly owned subsidiary after the final share transactions were carried out on Oct. 1. SummarySBI Holdings completed its takeover of Bitbank on Oct. 1, making the Japanese crypto exchange a wholly owned subsidiary.Bitbank completed the repurchase of shares held by MIXI and Ceres, closing the final transactions required under the acquisition.SBI VC Trade President Tomohiko Kondo has joined Bitbanks board, while Bitbank CEO Noriyuki Hirosue is set to become an outside director at SBI VC Trade.Bitbank said the ownership change will not affect its existing services, with customers able to continue using the exchange as before. According to Bitbanks announcement on Wednesday, the exchange completed the repurchase of shares held by MIXI and Ceres, closing the series of transactions agreed with SBI Holdings earlier this year. Bitbank said its existing services will continue without changes following the takeover. Customers can keep using the exchange under the same service arrangements. The ownership change follows a multistep transaction that began after SBI and Bitbank entered formal discussions earlier this year. In June, crypto.news previously reported that SBI had signed agreements to fully acquire Bitbank and bring the exchange into its financial group. Bitbank









