Metaplanet, a prominent Bitcoin investor in Japan, often compared to “Japanese MicroStrategy,” has announced a strategic partnership with SBI VC Trade, a crypto investment arm of SBI Group, which is affiliated with Ripple’s banking network. Metaplanet’s CEO, Simon Gerovich, disclosed this partnership via an X post on September 2, emphasizing that the collaboration will focus on enhancing Bitcoin trading and custody solutions.
The partnership, effective immediately, is aligned with Metaplanet’s strategy to increase its Bitcoin holdings through collaborations with key industry players in Japan. The official announcement highlighted that this initiative would leverage SBI’s compliant corporate custody services, which are optimized for tax efficiency and offer the potential for Bitcoin to be used as collateral for financing.
“This initiative is a continuation of our strategy to integrate with leading industry figures in Japan who support our vision for corporate Bitcoin acquisition,” Metaplanet stated. The collaboration promises to provide Metaplanet access to tools and strategies to improve financial flexibility, with significant developments to be disclosed as they arise.
SBI’s Role in Supporting Metaplanet
SBI’s announcement detailed its commitment to support Metaplanet by facilitating various aspects of Bitcoin transactions, including trading, storage, and operational management. SBI VC Trade, a direct subsidiary of the Tokyo Stock Exchange-listed SBI Holdings, will leverage its regulatory compliant platform to assist Metaplanet.
“Metaplanet has chosen Bitcoin as a primary financial asset, emphasizing Bitcoin’s scarcity and non-political monetary attributes. Our support will focus on enhancing Metaplanet’s Bitcoin accumulation strategy,” SBI noted in its statement.
SBI also offers a tax exemption service, launched in June 2024, known as the “Exclusion Service for End-of-Period Valuation Taxation.” This service is designed to help corporate investors like Metaplanet avoid taxes on unrealized gains by holding their crypto assets over the long term through a regulated custodian in Japan.
Moreover, SBI VC Trade provides leveraged trading options to Metaplanet, allowing the firm to use a variety of supported cryptocurrencies as collateral. This flexibility is part of a broader strategy to facilitate comprehensive crypto asset management for corporate clients.
Metaplanet’s Custody Strategy and Industry Collaboration
While SBI VC Trade is a significant partner, it is not the exclusive custody provider for Metaplanet. The company maintains a diversified approach to custody to mitigate risks and comply with regulatory standards.
Metaplanet’s collaboration with SBI is part of a broader effort to encourage corporate Bitcoin strategies within Japan, setting a precedent for other firms in the region to follow.
As Metaplanet continues to expand its treasury and explore new financial strategies, the support from a seasoned financial services player like SBI could significantly bolster its position in the crypto market. This partnership not only enhances Metaplanet’s operational capabilities but also aligns with broader industry trends towards institutional adoption of cryptocurrencies.
Featured image credit: manassanant pamai via Vecteezy
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