25. March 2023

SBI Takeover of Bitpoint Crypto Exchange

• Japanese securities giant SBI has completed a takeover of the rival crypto exchange Bitpoint.
• The move consolidates the firm’s increasingly tight grip on the domestic crypto market – and marks the second time it has taken over a domestic rival.
• SBI also owns TaoTao crypto trading platform, its own organic crypto exchange, and operates SBI VC Trade.

Background of Japanese Crypto Exchange Market

The Japanese crypto exchange scene has traditionally been dominated by smaller domestic startups, such as the market-leading bitFlyer. In recent years, however, securities firms have become increasingly keen on entering the market – and reducing the number of firms they have to compete with. The Monex Group bought Coincheck in 2018 and was linked with a possible bid for FTX Japan trading platform that will be sold by US bankruptcy court later this year. Other big names active in Japanese crypto industry include Line and Rakuten which both operate their own exchanges.

What Does SBI Gain?

By taking over Bitpoint, SBI gains access to its liquidity from its UK-based subsidiary B2C2. This would help to improve existing services provided by Bitpoint. Moreover, there is potential for listing gaming related tokens on the platform in future. Furthermore, SBI controls other ventures such as mining subsidiary called SBI Crypto and blockchain network called SBI-Ripple Asia in conjunction with Ripple from America.

Monex Group vs SBI

Monex Group is one of biggest competitors to SBI in securities market but both are actively involved into cryptocurrency industry as well. While Monex took control over Coincheck back in 2018, it was also linked with possible bid for FTX Japan trading platform which is likely to be sold soon this year by US bankruptcy court. On other hand, apart from taking control over Bitpoint last year (2020), SBI has also acquired TaoTao platform formerly part owned by Yahoo Japan earlier this year (2021).


In conclusion it can be said that with its takeovers of Bitpoint and TaoTao platforms combined with presence in mining sector through subsidiary company and blockchain network operated jointly with Ripple from America; shows that how serious is japanese securities giant about cryptocurrency industry domestically as well as globally too.