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 said in a statement.

The alliance with SBI VC Trade aligns with Metaplanet’s vision of becoming a leading modern financial services firm. It also adds flexibility to Metaplanet’s corporate strategy, bolstering its efforts to accumulate more BTC via equity and debt financing.

Metaplanet will update its stakeholders of any financial o material impact that arises from the partnership, part of the statement read.

BTC as a corporate strategy

The partnership with SBI VC Trade comes amid Metaplanet’s increasing bet on Bitcoin as part of its corporate strategy. In April 2024, the company disclosed its addition of BTC as a core treasury asset and committed an initial 1 billion Japanese yen to buying Bitcoin.

Over the next months, the strategic pivot has seen the industry dub Metaplanet as “Asia’s MicroStrategy” in a nod to its target to mirror the US-listed MicroStrategy’s embrace of the digital asset.

Currently, the Michael Saylor-led company has acquired a total of 226,500 BTC. This accounts for just over 1% of the total supply of Bitcoin and makes MicroStrategy the largest holder of BTC among publicly-traded companies.

On the other hand, Metaplanet holds a total of 360 BTC, having increased its holdings with a series of purchases over the past two months.