TOKYO, Friday, July 26, 2024-Metaplanet, a Japanese investment firm, has partnered with Hoseki to independently verify its Bitcoin holdings, a move aimed at enhancing transparency and trust in the cryptocurrency market.
Hoseki offers a Bitcoin proof-of-assets verification service, allowing users to prove ownership without compromising privacy, and facilitating transactions like loans, financial statements, and regulatory compliance.
The announcement can be read here.
The company has been accumulating Bitcoin since April and sought to assure investors of the accuracy of its holdings.
Hoseki, a global leader in Bitcoin verification solutions, will provide independent audits of Metaplanet’s Bitcoin reserves.
The partnership comes as more companies are incorporating Bitcoin into their treasury assets. By publicly verifying its holdings, Metaplanet hopes to set a new industry standard for transparency and accountability.
The move is seen as a positive step for the cryptocurrency market as it seeks to build trust among investors and regulators.
Japan is seen as a pioneer in cryptocurrency regulation, establishing early frameworks to protect investors and maintain market integrity.
The country was among the first to recognize digital currencies as a payment method.
While Japan has attracted major financial institutions and boasts a mature crypto market, it has also faced challenges. The collapse of the Mt. Gox exchange prompted stricter rules. Despite setbacks, the nation remains a global crypto leader, focused on responsible growth.
