Metaplanet partners with SBI VC Trade to enhance Bitcoin strategy
Japanese investment firm Metaplanet has announced a partnership with SBI VC Trade, a subsidiary of financial services behemoth SBI Group. Partnership will help boost Metaplanet’s Bitcoin strategy, including compliance. Metaplanet has acquired 360 Bitcoin (BTC) as it targets becoming ‘Asia’s MicroStrategy’ In an announcement on Sept. 2, Metaplanet said its collaboration with SBI VC Trade is part of the company’s quest to enhance its Bitcoin strategy with support from Japan-based firms. This includes trading, custody and management of Metaplanet’s Bitcoins. Metaplanet is a publicly-traded company listed on the Tokyo Stock Exchange and the partnership with the SBI crypto arm offers a route to further compliance. “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,” Metaplanet sa...