SBI Holdings Acquires Japanese Exchange Bitbank for $289M, Launches Yen Stablecoin

According to The Block, SBI Holdings recently completed multiple major crypto investments, including acquiring Japanese exchange Bitbank for approximately $289 million. The financial group also made exclusive investments in Gauntlet ($125 million Series C), EDX Markets ($76 million Series C), and participated in funding rounds for Morpho ($175 million token round) and Circle ($222 million token presale).

SBI launched Japan's first trust bank-backed yen stablecoin, JPYSC, as part of its broader on-chain transformation. The group aims to provide end-to-end services across exchanges, asset tokenization, and market platforms to capitalize on the emerging token economy.