Metaplanet Partners with SBI VC Trade to Enhance Bitcoin Strategy

Metaplanet, a leading Japanese Bitcoin investor often likened to “Japanese MicroStrategy,” has announced a strategic partnership with SBI VC Trade, a subsidiary of SBI Group. Simon Gerovich, CEO of Metaplanet, revealed this development on X on September 2, 2024. The partnership will focus on Bitcoin trading and custody, leveraging SBI VC Trade’s expertise and infrastructure to advance Metaplanet’s Bitcoin accumulation strategy.

Compliant Corporate Custody Service

A significant aspect of this partnership is the access to SBI VC Trade’s compliant corporate custody service. This service emphasizes tax efficiency and offers the potential for using Bitcoin as collateral for financing. Metaplanet’s announcement highlights that the collaboration aligns with their ongoing efforts to engage with key industry stakeholders in Japan to bolster their corporate Bitcoin strategy. As Metaplanet’s treasury expands, they will assess tools and strategies to enhance their financial flexibility, with any material impacts or financial updates to be communicated in due course.

SBI VC Trade will support Metaplanet in various aspects of Bitcoin management, including trading and storage. According to SBI, this collaboration is centered around Bitcoin’s unique attributes and non-political monetary policy. Metaplanet has committed to Bitcoin as a significant financial asset and aims to advance its accumulation through both debt and equity financing. SBI VC Trade, being a wholly-owned subsidiary of SBI Holdings listed on the Tokyo Stock Exchange, adheres to domestic rules and regulations governing cryptocurrency exchanges.

SBI VC Trade will also offer Metaplanet a new tax-related service known as the “Exclusion Service for End-of-Period Valuation Taxation.” Launched in June 2024, this service allows corporate crypto investors to hold assets with long-term confidence by exempting corporate taxes on the benefits of crypto assets. Additionally, SBI will provide Metaplanet with staking fee discounts and leveraged trading options using real margin, enabling the use of all SBI-supported crypto assets as margin.

Ongoing Collaboration with Ripple

SBI Group, a prominent partner of Ripple, has been actively involved in Ripple-related initiatives. In April 2024, SBI Group deployed XRP Ledger blockchain supply chain solutions to introduce XRPL enterprise solutions to Japan. Additionally, SBI Remit, a remittance-focused arm of SBI Holdings, expanded its MoneyTap application’s support to three local banks in 2023. Several other SBI subsidiaries have been working with Ripple for years, implementing XRP shareholder benefits programs and XRP-related settlement services.

Metaplanet’s partnership with SBI VC Trade marks a significant step in advancing their Bitcoin strategy, with a focus on trading, custody, and tax efficiency. The collaboration highlights the growing integration of major financial services firms with cryptocurrency investments and regulatory frameworks. As both companies move forward, this partnership is expected to enhance Metaplanet’s ability to manage and expand its Bitcoin holdings efficiently.