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SBI Group's Crypto Subsidiary Partners with Japanese Investor Metaplanet for Bitcoin Strategy
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.