• Metaplanet signs a strategic agreement with SBI VC Trade for custodial and financial services.
• The alliance intends to increase Bitcoin holdings and facilitate corporate funding.

Metaplanet Inc., a Japan-based investment firm recognized for its concentration on Bitcoin, has signed a strategic agreement with SBI VC Trade, a subsidiary of SBI Group. This collaboration will use SBI’s custodial services to increase Metaplanet’s corporate Bitcoin holdings and financial flexibility.

Partnership Details and Impact

The agreement enables Metaplanet to leverage SBI’s services for tax efficiency and perhaps use Bitcoin as collateral for financing. This move is consistent with Metaplanet’s overall objective of deepening its engagement with Japan’s cryptocurrency industry and expanding its financial choices.

Metaplanet, which has been compared to MicroStrategy due to its huge Bitcoin holdings, has lately had its shares rise by 50%, indicating increased investor confidence. The company has acquired 360 Bitcoin worth around $207 million, which it will use to get equity and loan financing.

SBI will assist Metaplanet with trading, storage, and operational support, which will be strengthened by the “Exclusion Service for End-of-Period Valuation Taxation,” a new tax-related service launched in June 2024. This service reduces corporate taxes on crypto asset benefits, allowing Metaplanet to hold and manage its Bitcoin assets more efficiently.

Metaplanet’s cooperation with SBI VC Trade is a significant step forward as it continues to integrate Bitcoin into its core financial strategy, reflecting Japan’s overall trend of expanding crypto usage. The parties have agreed to disclose any substantial financial implications of our agreement when they arise.

The alliance also allows for leveraged trading with all SBI-supported crypto assets as margin, increasing Metaplanet’s financial flexibility. This step is consistent with SBI’s larger involvement with Ripple and the XRP ecosystem, reflecting the company’s commitment to advancing crypto and blockchain technology in Japan.

The Japanese government’s recent decision to enable investment firms to hold cryptocurrency directly has cleared the way for such collaborations, highlighting the country’s shifting stance on digital assets in the face of economic woes.

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