Metaplanet Partners With SBI For Enhanced Bitcoin Custody and Trading

By: Isha Das

Bitcoin investment company Metaplanet has announced a strategic partnership with Japan’s financial giant SBI through its crypto investment service, SBI VC Trade, for Bitcoin trading and custody. This collaboration aims to bolster Metaplanet's corporate Bitcoin accumulation strategy by leveraging essential custody services that emphasize compliance and tax efficiency.

According to their agreement, Metaplanet will benefit from SBI VC Trade’s “Exclusion Service for End-of-Period Valuation Taxation,” which exempts corporate tax on unrealized gains of crypto held by corporate customers under specified conditions. Additionally, Metaplanet can use Bitcoin holdings as collateral for financing, thereby enhancing its financial strategy.

Metaplanet emphasized that this alignment with SBI reflects its ambition to transform into a modern financial services provider, adding flexibility to its corporate strategy. This strategic move complements their existing equity and debt financing efforts amidst increasing Bitcoin acquisitions.

Metaplanet's Bitcoin Acquisitions

The announcement of this partnership coincides with Metaplanet’s heightened Bitcoin investments, earning the nickname “Asia’s MicroStrategy.” Over recent months, Metaplanet has aggressively acquired approximately 360.368 BTC for about 3.45 billion yen (around $23 million). The firm plans to continue its Bitcoin purchases through innovative funding mechanisms, betting on the flagship digital asset's critical role in the global financial space. Metaplanet has also hinted at future ventures within the Bitcoin ecosystem, exploring possibilities to generate additional income via covered call options on its BTC holdings.

SBI's Expanding Crypto Footprint

SBI Holdings has been significantly contributing to the cryptocurrency sector through several strategic partnerships with major crypto firms like Ripple and stablecoin issuer Circle. Its subsidiary, SBI VC Trade, is a fully licensed crypto trading platform regulated by Japan’s Financial Services Agency, offering custody and trading solutions tailored for institutional clients, including hedge funds, asset managers, and corporations.

This partnership between Metaplanet and SBI highlights the growing collaboration between traditional finance players and emerging crypto firms, fortifying Bitcoin's influence in the corporate investment landscape.