Metaplanet works with SBI VC Trade, partner of Ripple

Metaplanet, investment consulting company in Japan as well as famous holder of Bitcoin, has formed a new partnership with Ripple’s banking partner, SBI VC Trade.

The objective is to involve the main stakeholders of Japan to participate in the company’s BTC accumulation strategy.

Japan and Bitcoin: Metaplanet collaborates with SBI VC Trade, Ripple’s banking partner 

Metaplanet, investment consulting company in Japan, has formed a new partnership with SBI VC Trade, well-known banking partner of Ripple. The announcement was shared on X by the CEO of Metaplanet, Simon Gerovich:

“We are pleased to announce our collaboration with the SBI Group company @sbivc_official for the trading and custody of Bitcoin”

The object of the new collaboration will be to succeed together in the mission of involving the main stakeholders of the sector in Japan who support the Bitcoin accumulation strategy of Metaplanet. 

Among the key elements of the partnership, in fact, there will be access to a compliant corporate Bitcoin custody service. Metaplanet states that this service prioritizes tax efficiency and offers the possibility of using Bitcoin as collateral for financing.

In general, Metaplanet and SBI VC Trade will offer services dedicated to transactions, custody, and management of Bitcoin

Specifically, the Japanese company aims to expand its treasury, evaluating various instruments and strategies that can improve its financial flexibility. 

Japan and Bitcoin: Metaplanet chooses SBI VC Trade, Ripple’s partner 

To succeed in its mission, Metaplanet has chosen SBI VC Trade, a company wholly owned by SBI Holding, listed on the primary market of the Tokyo Stock Exchange. SBI Holding is also the strategic ally of Ripple in cross-border payments. 

Not by chance, at the beginning of this 2024, la SBI has led an innovative initiative to issue NFT on Ledger XRP. 

In any case, even SBI wanted to share the announcement of the new partnership with Metaplanet, stating that it is assisting the Japanese company in addressing the problem of its BTC. 

Among other things, SBI talked about purchase strategy, providing various types of support for trading, storage, and operations.

Long-term holder of Bitcoin

Metaplanet has become famous in the crypto sector, especially for implementing its Bitcoin accumulation strategy. 

Only last June, the Japanese company had announced the purchase of another 6 million dollars in Bitcoin (BTC). The funds for the purchase came from a bond issuance. 

Specifically, the collection through the declared bond offer is 1 billion yen, the equivalent of over 6.2 million USD dollars. 

The objective of Metaplanet is precisely to be a BTC holder company in the long term.

In July, after the purchase of another 21.88 BTC, the company reached a total of 225.61 BTC. 

Source: https://en.cryptonomist.ch/2024/09/02/japan-and-bitcoin-metaplanet-works-with-sbi-vc-trade-banking-partner-of-ripple/