A well-known Japanese Bitcoin investment company called Metaplanet has teamed up with SBI VC Trade, a branch of SBI Group, to work together on business projects. Metaplanet, which is known as the “Japanese MicroStrategy” because it has a lot of Bitcoin, wants to improve its trade and keeping of Bitcoin through this partnership.
Simon Gerovich, CEO of Metaplanet, announced the agreement on September 2. It will use SBI VC Trade’s experience in cryptocurrency services. The goal of this partnership is to make Metaplanet’s Bitcoin trade and custody methods better, with a focus on tax efficiency and the ability to use Bitcoin as collateral for loans. In order to move forward with its business Bitcoin accumulation approach, Metaplanet is continuing to work with key industry players in Japan.
Pleased to announce our collaboration with SBI Group company @sbivc_official for Bitcoin trading and custody
— Simon Gerovich (@gerovich) September 2, 2024
Japanese: https://t.co/BhsdwnU2Qk
English: https://t.co/2OUiTbMfna https://t.co/swCyOX34bP
SBI VC Trade, which is owned by SBI Holdings and traded on the Tokyo Stock Exchange, will help Metaplanet by offering advanced services for dealing, storing, and running Bitcoin. One interesting thing about this relationship is that SBI has added a new tax service that doesn’t charge corporations any taxes on the profits from crypto assets. When this service started in June 2024, it gave business crypto investors the peace of mind that they could keep their investments safe and their cash flow stable over the long term.
Metaplanet’s plan is to collect Bitcoin as a main form of currency, especially since the Japanese yen is falling in value and the country’s debt is rising. The company has taken steps to increase the amount of Bitcoin it holds by using both loan and equity capital, among other things. Metaplanet recently said it had more than 360 BTC, showing how aggressively it is accumulating Bitcoin.
Metaplanet hopes that this relationship with SBI VC Trade will help it become more financially flexible and help it reach its goal of holding Bitcoin for a long time. The partnership also shows SBI’s deeper commitment to the crypto sector, making it even more of a major player in the global coin market.
