Metaplanet and SBI VC Trade Partner to Boost Bitcoin Trading and Management

Metaplanet Inc. and SBI VC Trade Co. Ltd. have announced a strategic partnership to advance bitcoin trading, storage, and management, effective Sept. 2, 2024.

Metaplanet and SBI VC Trade Join Forces to Enhance Bitcoin Trading and Management.

Metaplanet Inc., a company known for its “Bitcoin First, Bitcoin Only” strategy, has entered into a strategic partnership with SBI VC Trade Co. Ltd. to advance bitcoin trading, storage, and management. This alliance aligns with Metaplanet's focus on BTC's scarcity and decentralized monetary policy, aiming to support their corporate bitcoin accumulation goals.

According to the announcement on September 2, 2024, this partnership will enable Metaplanet to utilize SBI VC Trade's tax-efficient corporate custody services and the ability to use bitcoin as collateral. The partnership is set to bolster Metaplanet's strategy, which has already led the company to accumulate approximately 360 BTC through debt and equity financing.

Simon Gerovich, Representative Director of Metaplanet, commented on the partnership:

This collaboration is part of our ongoing effort to engage with leading industry stakeholders in Japan who support our corporate Bitcoin accumulation strategy.

Highlighting the company's goal of accumulating 1,000 BTC, Gerovich noted that the partnership with SBI VC Trade will support this objective. Metaplanet aims to demonstrate the benefits of a non-diversified corporate treasury strategy centered on sound monetary assets like bitcoin.

Gerovich further stated:

A key element of this partnership is access to a compliant corporate custody service that prioritizes tax efficiency and offers the potential to utilize Bitcoin as collateral for financing.

SBI VC Trade, a subsidiary of SBI Holdings, is known for its crypto asset-backed leverage trading, which allows the use of crypto assets as margin. The company also offers competitive funding rates and narrow spreads for leveraged transactions. Furthermore, SBI VC Trade provides an exemption service for end-of-period mark-to-market tax on crypto assets, which could be beneficial for companies like Metaplanet that are looking to accumulate bitcoin in the expanding crypto market.

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