Metaplanet’s Bitcoin ambitions expand with its new partnership with Japan’s SBI.
Bitcoin investment company Metaplanet has entered into a strategic partnership with Japan’s financial giant SBI through its crypto investment service, SBI VC Trade, to enhance Bitcoin trading and custody, according to a statement released on September 2.
Metaplanet highlighted that this partnership aligns with its strategy to collaborate with key industry players in Japan that support its corporate Bitcoin accumulation plan. The partnership will provide Metaplanet access to corporate custody services that emphasize compliance and tax efficiency.
SBI VC Trade announced that Metaplanet would benefit from its “Exclusion Service for End-of-Period Valuation Taxation,” which exempts corporate tax on the unrealized gains of crypto held by corporate customers under certain conditions.
Additionally, Metaplanet will have the opportunity to use Bitcoin as collateral for financing, further enhancing its financial strategy.
The company also stated that this partnership reflects its vision of becoming a modern financial services provider and adds flexibility to its corporate strategy, complementing its equity and debt financing efforts.
Metaplanet’s Bitcoin Strategy
This partnership comes as Metaplanet ramps up its Bitcoin investments, earning it the nickname “Asia’s MicroStrategy.” In recent months, Metaplanet has aggressively acquired 360.368 BTC for approximately 3.45 billion yen (around $23 million).
The company plans to pursue further acquisitions through innovative funding methods, motivated by Japan’s economic challenges and the belief that Bitcoin will play a crucial role in the global financial landscape.
Metaplanet has also hinted at potential future ventures within the Bitcoin ecosystem and the possibility of generating additional income by selling covered calls on its BTC holdings.
SBI’s Expanding Role in Crypto
SBI has made significant strides in the crypto industry through several strategic partnerships with major crypto firms, such as Ripple and stablecoin issuer Circle.
SBI’s commitment to the industry is further demonstrated by its subsidiary, SBI VC Trade, a fully licensed crypto trading platform regulated by Japan’s Financial Services Agency. The firm provides custody and trading solutions for institutional clients, including hedge funds, asset managers, and corporations.
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