Bitcoin investment firm Metaplanet has formed a strategic partnership with Japanese financial giant SBI through its crypto investment service, SBI VC Trade, for the trading and custody of Bitcoin, according to a September 2 report. statement.
Metaplanet emphasized that this partnership aligns with its ongoing strategy to connect with key industry players in Japan who support the Bitcoin accumulation business plan. Through this partnership, the company will gain access to corporate custody services that prioritize compliance and tax efficiency.
SBI VC Trade declared that Metaplanet would benefit from one of its products, the ‘Exclusion Service for End-of-Period Valuation Taxation’, which exempts corporate tax on the unrealized profits of crypto held by corporate clients under certain conditions.
Furthermore, Metaplanet can use Bitcoin as collateral for financing, improving its financial strategy.
The company also noted that this move reflects its vision of a modern financial services company and adds flexibility to its business strategy, complementing its equity and debt financing efforts.
Metaplanet’s Bitcoin Movements
This partnership announcement coincides with Metaplanet’s increased Bitcoin investments, earning it the nickname ‘Asia’s MicroStrategy’.
In recent months, Metaplanet has aggressively acquired 360,368 BTC for approximately 3.45 billion yen (approximately $23 million).
The company plans to make more purchases through innovative financing mechanisms due to Japan’s economic challenges and the belief that its flagship digital asset would play a crucial role in the global financial landscape.
Furthermore, Metaplanet has hinted at potential future ventures within the Bitcoin ecosystem and the possibility of generating additional income by selling covered calls on its BTC holdings.
SBI’s growing interaction with crypto
SBI has contributed significantly to the emerging industry through several strategic partnerships with major crypto companies, such as Ripple and stablecoin issuer Circle.
Its interest in the sector is further reflected by its subsidiary, SBI VC Trade, a fully licensed crypto trading platform regulated by Japan’s Financial Services Agency. The company provides custody and trading solutions for institutional clients, including hedge funds, asset managers and corporations.