Japanese Bitcoin investor Metaplanet, known as the “Japanese MicroStrategy,” has formed a strategic partnership with SBI Group’s crypto investment service, SBI VC Trade, to focus on Bitcoin trading and custody.
Metaplanet CEO Simon Gerovich announced the collaboration on September 2, stating that the partnership will support Metaplanet’s Bitcoin accumulation strategy by engaging with key stakeholders in Japan.
Metaplanet added that access to a compliant corporate custody service is a critical component of the partnership, which prioritizes tax efficiency and considers using Bitcoin as collateral for financing. The company will also explore various tools and strategies to improve financial flexibility.
SBI VC Trade, a wholly-owned subsidiary of SBI Holdings, will support Metaplanet in Bitcoin trading, storage, and operations. SBI introduced an “Exclusion Service for End-of-Period Valuation Taxation” in June 2024, allowing corporate investors to hold crypto assets without incurring taxes on valuation gains. The partnership also offers Metaplanet leveraged trading opportunities using all SBI-supported cryptocurrencies.
SBI Group is a major partner of Ripple and has recently expanded its involvement with the latter’s blockchain technologies, including deploying the XRP Ledger for supply chain solutions and supporting various XRP-related services in Japan.
Separately, Ripple has teamed up with the Tokyo-based consulting firm HashKey DX to lead the rollout of XRPL enterprise solutions in Japan. The partnership will also involve SBI Ripple Asia, a joint venture between SBI Holdings and Ripple, which will focus on developing supply chain finance solutions using the XRPL blockchain.
Circle, the company behind the USD Coin (USDC) stablecoin, is also collaborating with SBI Holdings to deepen the adoption of USDC and Web3 services in Japan. SBI VC Trade, a crypto subsidiary of SBI Holdings, is tasked with obtaining the necessary regulatory approvals to facilitate the circulation of USDC.
At Paris Blockchain Week, RippleX’s Markus Infanger mentioned that advanced discussions are ongoing with various financial institutions interested in launching tokenization projects on the XRP Ledger, with use cases and distribution strategies already being defined.
