Japanese investment firm Metaplanet has announced a partnership with SBI VC Trade, a subsidiary of financial services giant SBI Group.
The partnership will help strengthen Metaplanet’s Bitcoin strategy, including compliance. Metaplanet acquired 360 Bitcoin (BTC) in an effort to become “Asia’s Microstrategy.”
In a Sept. 2 announcement, Metaplanet said the partnership with SBI VC Trade is part of the company’s efforts to strengthen its Bitcoin strategy with the backing of Japanese companies, which includes trading, storage, and management of Bitcoin on Metaplanet’s behalf.
Metaplanet is a public company listed on the Tokyo Stock Exchange, and its partnership with SBI's cryptocurrency division paves the way for further compliance.
“A key element of this partnership is access to a compliant corporate custody service that prioritizes tax efficiency and offers the possibility to use Bitcoin as collateral for fundraising,” Metaplanet said in a statement.
The partnership with SBI VC Trade is aligned with Metaplanet's vision to become a cutting-edge financial services company and adds flexibility to Metaplanet's corporate strategy, strengthening its efforts to accumulate more BTC through equity and debt financing.
The statement said Metaplanet will inform stakeholders of any financial or material impacts arising from the partnership.
BTC as a business strategy
The partnership with SBI VC Trade comes as Metaplanet is increasing its investments in Bitcoin as part of its corporate strategy. In April 2024, the company Disclosed The company added BTC as a core treasury asset and initially committed 1 billion yen to purchasing Bitcoin.
Over the following months, this strategic shift led the industry to refer to Metaplanet as the “Asian MicroStrategy,” a nod to the company’s goal of mirroring U.S.-listed MicroStrategy’s digital asset efforts.
Currently, the Michael Saylor-led company has acquired a total of 226,500 BTC, which represents just over 1% of Bitcoin's total supply, making MicroStrategy the largest holder of BTC among publicly-listed companies.
Meanwhile, Metaplanet has increased its holdings through a series of purchases over the past two months, bringing its total to 360 BTC.
