Metaplanet teams up with Japan’s SBI for enhanced regional Bitcoin custody and trading

Bitcoin investment company Metaplanet has formed a strategic partnership with Japan’s financial giant SBI through its crypto investment service, SBI VC Trade, for Bitcoin trading and custody, according to a Sept. 2 statement.

Metaplanet emphasized that this partnership aligns with its ongoing strategy to engage with key industry players in Japan who support its corporate Bitcoin accumulation plan. Through this partnership, it will gain access to corporate custody services that prioritize compliance and tax efficiency.

SBI VC Trade stated that Metaplanet would enjoy one of its products, the “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 may use Bitcoin as collateral for financing, enhancing its financial strategy.

The company also noted that this move reflects its vision of a modern financial services provider and adds flexibility to its corporate strategy, complementing its equity and debt financing efforts.

Metaplanet’s Bitcoin moves

This partnership announcement coincides with Metaplanet’s increased Bitcoin investments, earning it the nickname “Asia’s MicroStrategy.”

Over the past months, Metaplanet has aggressively acquired 360.368 BTC for approximately 3.45 billion yen (around $23 million).

The firm intends to pursue more purchases through innovative funding mechanisms because of Japan’s economic challenges and belief that the flagship digital asset would play a pivotal role in the global financial landscape.

Further, Metaplanet has 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 growing interaction with crypto

SBI has significantly contributed to the emerging industry through several strategic partnerships with major crypto firms, such as Ripple and stablecoin issuer Circle.

Its interest in the industry is further reflected 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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