Japanese Bitcoin Investor Metaplanet Partners with Ripple’s SBI for Enhanced Trading and Custody
Metaplanet, a prominent Japanese Bitcoin investment firm often compared to MicroStrategy, has announced a new partnership with SBI, Ripple’s financial ally.
Simon Gerovich, CEO of Metaplanet, shared on September 2 that the firm is teaming up with SBI Group’s crypto investment arm, SBI VC Trade.
The collaboration is set to focus on Bitcoin trading and custody solutions. This strategic move is part of Metaplanet’s broader strategy to work with leading industry players in Japan to support its Bitcoin accumulation efforts.
Key to this partnership is the access Metaplanet will have to SBI’s compliant corporate custody services, which emphasize tax efficiency and offer the potential to use Bitcoin as collateral for financing. Metaplanet aims to explore various financial tools and strategies to boost its financial flexibility.
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SBI will assist Metaplanet with trading, storage, and operational support for its Bitcoin strategy. SBI VC Trade, a subsidiary of SBI Holdings listed on the Tokyo Stock Exchange, will also provide tax-related services designed to exclude corporate taxes on crypto asset gains.
This new service, launched in June 2024, aims to support long-term holding of digital assets by offering exemptions on end-of-period valuation taxes. SBI VC Trade will also offer leveraged trading options with real margins and discounts on staking fees.
SBI Group, a significant partner of Ripple, has been expanding its crypto and blockchain initiatives, including integrating XRP Ledger solutions into Japan’s market.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
