In a strategic move, SBI Group's crypto exchange subsidiary, SBI VC Trade, has announced a partnership with the Japanese investment firm Metaplanet.
In a strategic move, SBI Group's crypto exchange subsidiary, SBI VC Trade, has announced a partnership with the Japanese investment firm Metaplanet.
The collaboration aims to support Metaplanet's Bitcoin (BTC) strategy, encompassing various aspects such as trading, storage, and operational support.
Metaplanet, often referred to as the "Japanese MicroStrategy," has been actively accumulating Bitcoin as a core part of its corporate treasury. The company has already acquired 360 Bitcoin, valued at approximately 3.45 billion Japanese yen.
According to the announcement, the partnership with SBI VC Trade is part of Metaplanet's ongoing efforts to collaborate with leading industry stakeholders in Japan who support the company's corporate Bitcoin accumulation strategy.
A key element of the collaboration is access to a compliant corporate custody service that prioritizes tax efficiency and offers the potential to utilize Bitcoin as collateral for financing. Metaplanet stated that any financial or material impact arising from this partnership will be duly announced.
SBI VC Trade, a wholly-owned subsidiary of the publicly-traded SBI Holdings, operates a cryptocurrency asset exchange business in accordance with domestic rules and regulations. The platform will provide Metaplanet with various support services, including Bitcoin trading and storage.
Notably, SBI VC Trade will offer Metaplanet a new tax-related service called the "Exclusion Service for End-of-Period Valuation Taxation." This service aims to enable corporate crypto investors to hold assets "with confidence in the long run" by excluding corporate taxes on the benefits of crypto assets.
In addition, Metaplanet will gain access to leveraged trading with real margin, allowing the firm to use all SBI-supported crypto assets as collateral.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
