Metaplanet, a well-known investment advisory firm in Japan with significant Bitcoin assets, has forged a strategic alliance with SBI VC Trade, a partner of Ripple in the banking sector. The primary objective of this partnership is to engage key stakeholders in Japan and enhance Metaplanet’s Bitcoin accumulation strategy.
Simon Gerovich, CEO of Metaplanet, expressed excitement about the collaboration with SBI VC Trade for Bitcoin trading and custody services. This venture will grant access to a compliant corporate custody service for Bitcoin, focusing on tax efficiency and allowing Bitcoin to be used as collateral for financing.
The partnership will provide a spectrum of services encompassing Bitcoin transactions, custody, and portfolio management. Metaplanet plans to enlarge its treasury by delving into diverse financial instruments and strategies to maximize financial flexibility.
SBI VC Trade, a subsidiary of SBI Holdings trading on the Tokyo Stock Exchange and a strategic collaborator of Ripple, was selected by Metaplanet based on its specialized knowledge in the domain. Earlier this year, SBI initiated a project to release NFTs on the Ledger XRP blockchain.
Metaplanet has garnered acclaim in the cryptocurrency sector for its enduring Bitcoin accumulation plan. In June, the company disclosed the acquisition of $6 million in Bitcoin through a bond issuance, resulting in a total holding of 225.61 BTC. The objective of the company is to establish itself as a respected long-term custodian of Bitcoin.
The partnership between Metaplanet and SBI VC Trade represents a momentous stride towards widening Bitcoin adoption in Japan and solidifying the standing of both organizations in the digital asset sphere.
