Metaplanet will receive a variety of operational, storage, and trading support from SBI VC Trade, the fully-owned crypto exchange of the SBI Group.
Financial services business SBI is partnering with Ripple, and one of its key investors, Metaplanet, is working with them. Metaplanet is frequently called the “Japanese MicroStrategy” because to its extensive Bitcoin holdings.
Simon Gerovich, CEO of Metaplanet, announced on September 2 on X that the company has formed a strategic partnership with SBI VC Trade, a crypto investment service of the SBI Group.
Gerovich observed that Metaplanet’s partnership with SBI VC Trade is intended to concentrate on “Bitcoin trading and custody” with immediate effect.
Metaplanet’s official announcement reads, “This collaboration is part of our ongoing endeavor to engage with prominent industry stakeholders in Japan who support our corporate Bitcoin accumulation strategy.” A compliant corporate custody service is a critical component of the partnership.
The company also stated that access to a compliant corporate custody service that “prioritizes tax efficiency and offers an opportunity to utilize Bitcoin as collateral for financing” is one of the key elements of the collaboration. The announcement includes the following information:
“We are continuously assessing a variety of strategies and instruments that could improve our financial flexibility as our treasury grows. I will notify you of any material events or financial implications that result from this partnership.”
SBI has officially announced that it will provide Metaplanet with a variety of support in the areas of trading, storage, and operation to help the company implement its Bitcoin purchase strategy.
“Metaplanet designated Bitcoin as a significant financial asset and promoted its accumulation through both debt and equity financing, focusing on its rarity and non-political monetary policy,” SBI wrote.
SBI VC Trade is a wholly-owned subsidiary of SBI Holdings, which is listed on the Tokyo Stock Exchange prime market, as noted by SBI. The platform conducts a cryptocurrency asset exchange operation in compliance with domestic laws and regulations.
SBI will offer Metaplanet a new tax-related service that excludes corporate taxes on the benefits of crypto assets, in addition to the variety of services the company provides to the Japanese “MicroStrategy.”
In June 2024, SBI introduced the “Exclusion Service for End-of-Period Valuation Taxation.” It endeavors to provide corporate crypto investors with the ability to “hold assets with confidence in the long term.”
“You will receive a staking charge and a discount on the staking fee regardless of whether you utilize the service,” SBI stated in the announcement.
Furthermore, Metaplanet obtains access to leveraged trading with real margin through SBI VC Trade, which permits the company to utilize all SBI-supported crypto assets as margin.
Ripple, the organization responsible for the XRP cryptocurrency, has secured a significant partnership with the Japanese SBI Group.
In April 2024, SBI Group implemented the XRP Ledger blockchain supply chain solutions to introduce XRPL enterprise solutions to the Japanese market.
In 2023, SBI Remit, the remittance-focused subsidiary of the Japanese financial services conglomerate SBI Holdings, expanded its mobile MoneyTap application to include three local institutions.
For years, Ripple has been collaborating with numerous other SBI subsidiaries, introducing XRP shareholder benefits programs and XRP-related settlement services.
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