According to CoinPost, Japan's SBI Holdings has initiated capital business cooperation negotiations with the operating company of the cryptocurrency exchange Bitbank, planning to include Bitbank as its merged subsidiary. SBI Group has previously completed the absorption and merger of SBI VC Trade with Bitpoint Japan. Bitbank is known for its security record of zero hacking incidents and signed a capital business cooperation agreement with Mixi in 2021 to raise approximately 7 billion yen. If the acquisition is completed, SBI will form Japan's largest cryptocurrency platform group.