Finance

Metaplanet and SBI Group Collaborate to Boost Bitcoin Trading in Japan

Sep 2, 2024 1 min read

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Japanese investment firm Metaplanet Inc. has announced a strategic partnership with SBI VC Trade, the crypto division of SBI Holdings, to enhance its Bitcoin trading, storage, and management capabilities. This collaboration is aimed at supporting Metaplanet’s vision of being a modern financial services provider and increasing its financial flexibility. As part of the agreement, Metaplanet will gain access to a compliant corporate custody service that prioritizes tax efficiency and offers the potential to use Bitcoin as collateral for financing.

The partnership is influenced by current economic conditions in Japan, such as the depreciation of the yen and low-interest rates, which have driven Metaplanet to invest heavily in Bitcoin. As of September 2, Metaplanet holds 360.4 Bitcoins, valued at approximately $20.7 million. The company also plans to tokenize its shares on the Bitcoin layer-2 network, Liquid. Any material financial impacts arising from this partnership will be communicated in due course.

#cryptocurrency #blockchain #bitcoin

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