Japanese Bitcoin investor Metaplanet, known as the “Japanese MicroStrategy,” has partnered with SBI VC Trade, a crypto investment service by Ripple’s partner SBI Group.
Metaplanet, a prominent Japanese Bitcoin investor who is frequently referred to as the “Japanese MicroStrategy,” is collaborating with Ripple’s banking partner, the financial services firm SBI.
Simon Gerovich, CEO of Metaplanet, announced on September 2 on X that the company has formed a strategic partnership with SBI VC Trade, a crypto investment service of the SBI Group.
Gerovich observed that Metaplanet’s partnership with SBI VC Trade is intended to concentrate on “Bitcoin trading and custody” with immediate effect.
A critical component of the partnership is the provision of corporate custody services that are compliant.
Metaplanet’s official announcement states that this collaboration is a component of our ongoing endeavor to engage with prominent industry stakeholders in Japan who are in support of our corporate Bitcoin accumulation strategy.
The company also stated that access to a compliant corporate custody service that “prioritizes tax efficiency and offers the potential to utilize Bitcoin as collateral for financing” is one of the key elements of the collaboration. The announcement includes the following information:
“As our treasury expands, we continue to evaluate various tools and strategies that could enhance our financial flexibility. Any impact on financials or material events arising from this partnership will be announced accordingly.”
Metaplanet to Receive Assistance from SBI in the Areas of Commerce and Storage
SBI has officially announced that it will provide Metaplanet with a variety of support in the areas of trading, storage, and operation to help implement its Bitcoin purchase strategy.
“Metaplanet designated Bitcoin as a significant financial asset and promoted its accumulation through both debt and equity financing, focusing on its rarity and non-political monetary policy,” SBI wrote.
SBI VC Trade is a wholly-owned subsidiary of SBI Holdings, which is listed on the Tokyo Stock Exchange prime market, as noted by SBI. The platform conducts a cryptocurrency asset exchange operation in compliance with domestic laws and regulations.
The end-of-period valuation tax exemption service is one of the services that are provided.
SBI will offer Metaplanet a new tax-related service that excludes corporate taxes on the benefits of crypto assets, in addition to the variety of services the company provides to the Japanese “MicroStrategy.”
In June 2024, SBI introduced the “Exclusion Service for End-of-Period Valuation Taxation.” It is designed to allow corporate crypto investors to maintain assets “with confidence in the long term.”
“You will receive a staking fee and a discount on the staking fee regardless of whether you utilize the service,” SBI stated in the announcement.
Furthermore, Metaplanet is granted access to leveraged trading with actual margin by SBI VC Trade, which allows the company to utilize all SBI-supported crypto assets as margin.
Ripple, the organization responsible for the XRP cryptocurrency, has secured a significant partnership with the Japanese SBI Group.
In April 2024, SBI Group implemented the XRP Ledger blockchain supply chain solutions to introduce XRPL enterprise solutions to the Japanese market.
In 2023, SBI Remit, the remittance-focused subsidiary of the Japanese financial services conglomerate SBI Holdings, expanded its mobile MoneyTap application to include three local institutions.
For years, Ripple has been collaborating with numerous other SBI subsidiaries, introducing XRP shareholder benefits programs and XRP-related settlement services.
