Friday, September 6, 2024 – SBI VC Trade, the cryptocurrency subsidiary of Japan’s SBI Group, has announced a partnership with Japanese investment firm Metaplanet to advance its Bitcoin strategy.
The collaboration aims to support Metaplanet’s corporate Bitcoin accumulation strategy, including trading, storage, and operational support.
Metaplanet, dubbed the “Japanese MicroStrategy,” has made Bitcoin a core part of its corporate treasury, acquiring 360 Bitcoin valued at approximately 3.45 billion yen.
SBI VC Trade, a wholly-owned subsidiary of SBI Holdings, operates in line with Japan’s regulatory framework. Through this partnership, it will provide Metaplanet with various services such as Bitcoin trading and storage. Additionally, Metaplanet will benefit from a tax service called the “Exclusion Service for End-of-Period Valuation Taxation,” designed to help corporate crypto investors hold assets without incurring corporate taxes on crypto-related gains.
A key feature of this partnership is the provision of compliant corporate custody services that emphasize tax efficiency, allowing Bitcoin to be used as collateral for financing. Metaplanet also gains access to leveraged trading with real margin, using all SBI-supported crypto assets as collateral.
Metaplanet has stated it would announce any financial or material impacts from this partnership in due course. The move marks a significant step in Japan’s growing Bitcoin landscape, as more corporate entities turn to digital assets for their treasuries.
