SBI VC Trade Partners with Metaplanet to Offer Bitcoin Management

Coinspeaker
SBI VC Trade Partners with Metaplanet to Offer Bitcoin Management

Popular Japanese crypto exchange SBI VC Trade has established a partnership with Metaplanet Inc, a Tokyo Stock Exchange-listed firm popularly known for its endless Bitcoin (BTC) acquisitions. According to Coinpost, which first reported the news, SBI aims to use this partnership to its advantage as it helps it boost Bitcoin trading, storage, and management on its platform. Ultimately, the move is expected to bring about positive changes and advancements in Japan’s crypto industry.

SBI admits that this collaboration presents an opportunity for it to forge ahead with its corporate Bitcoin savings strategy. By having deep ties with big industry players such as Metaplanet, the company can better deliver on its core missions of supporting Web3-related businesses and improving its services for corporate clients. That is, through its SBIVC for Prime platform.

The announcement follows a recent speech by SBI Chairman Yoshitaka Kitao at the WebX2024 international conference, where he spoke of the group’s efforts in the area of Web3. In the speech, Kitao spoke about another partnership that SBI had entered into. That is, with gaming-focused blockchain firm Oasys.

He cited that the move is part of SBI’s broader strategy to be at the forefront of the emerging Web3 space. However, he declared that even those efforts will be particularly focused on integrating blockchain technology into various sectors.

Metaplanet has established itself as a forerunner in the Bitcoin investment space, having recently earmarked Bitcoin as its primary financial asset.

The company has been methodically expanding its Bitcoin portfolio through a combination of debt and equity financing. As of the latest reports, it holds approximately 360 BTC, proof of its unshaken confidence in Bitcoin as a great investment and long-term store of value.

As Coinspeaker reported in August, Metaplanet secured a loan of 1 billion Japanese yen (approximately $6.8 million) at an exceptionally low annual percentage rate of 0.1%. The loan became one of the standout achievements of Metaplanet after it declared that the loan would be used to further bolster its Bitcoin holdings.

It is worth noting that SBI VC Trade is not the only partner that stands to gain from this collaboration. Metaplanet also gains immensely from the arrangement. That is, at least in three ways.

Firstly, the partnership has the enviable backing of the SBI Group, a subsidiary of SBI Holdings. However, the group itself is listed on the Tokyo Stock Exchange Prime Market, meaning that Metaplanet has some reasonable level of confidence in the new security that comes from this partnership. More so, considering the inconsistencies that characterize the cryptocurrency space.

Furthermore, the partnership includes the use of leveraged trading secured by crypto assets. With this, Metaplanet has more flexibility and could potentially see more returns on its Bitcoin investments.

There is also the fact that the collaboration brings an exemption from the application of end-of-period mark-to-market tax. This exemption relates to the consideration that is usually given to companies that manage very large crypto portfolios.

Without a doubt, this partnership between SBI VC Trade and Metaplanet is one for the ages, and it is expected to have effects that will ripple through Japan’s entire crypto ecosystem.

SBI VC Trade Partners with Metaplanet to Offer Bitcoin Management