Japanese Bitcoin investor Metaplanet works with Ripple partner SBI
Metaplanet, a major Japanese bitcoin investor often referred to as “Japanese Microstrategy,” has partnered with Ripple's banking partner, financial services firm SBI.
Metaplanet CEO Simon Gerovic took to X on September 2 to announce that Metaplanet has entered into a strategic partnership with SBI VC Business, the crypto investment arm of SBI Group.
Gerovich said that immediately Metaplanet's partnership with SBI VC Business aims to target “Bitcoin trading and protection.”
Source: Simon Gerovitch
Coordinated corporate protection services are a key component of the partnership.
“This collaboration is part of our continued efforts to engage with leading industry stakeholders in Japan who support our corporate bitcoin inventory strategy,” Metaplanet's official announcement said.
The company mentioned that one of the key elements of the partnership is access to a corporate protection service that “prioritises tax efficiency and allows for the use of bitcoin as collateral.” The advertisement reads:
“As our portfolio expands, we will continue to evaluate various tools and strategies that may increase our financial flexibility. Any impact on financial or material events arising from this partnership will be disclosed accordingly.”
SBI Metaplanet provides support in trading and storage
According to SBI's official announcement, the financial services firm will help Metaplanet address its Bitcoin (BTC) acquisition strategy by providing various support in trading, storage and operations.
“Focused on Bitcoin's rarity and apolitical monetary policy, Metaplanet positions Bitcoin as a primary financial asset and superior Bitcoin portfolio through debt and equity financing,” SBI wrote.
SBI pointed out that SBI VC Business is a wholly-owned subsidiary of SBI Holdings, which is listed on the Tokyo Stock Exchange's Main Market. The platform conducts cryptocurrency asset exchange business in accordance with local laws and regulations.
One of the services offered is free end-of-term assessment tax free service.
Among the various services provided by SBI to Metaplanet, the company has introduced a new tax-related service for the Japanese “micro strategy” that excludes corporate taxes on crypto assets.
SBI has launched the service for the first time in June 2024, titled “Expiration of Valuation Tax”. It aims to enable corporate crypto investors to hold assets “on trust for the long term”.
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“Even if you use the service, you will get a discount on share charge and share charge,” SBI said in the announcement.
Additionally, SBI VC offers Metaplanet trading with real margin, enabling the firm to use all SBI-backed crypto assets as margin.
Japan's SBI Group has emerged as Ripple's main partner behind the XRP cryptocurrency.
In April 2024, SBI Group deployed XRP Ledger blockchain supply chain solutions to introduce XRPL enterprise solutions to the Japanese market.
Japan's financial services conglomerate SBI Holdings, which specializes in remittances, has launched SBI Remit, a mobile MoneyTap app in 2023, for three local banks.
Several other SBI subsidiaries have partnered with Ripple over the years to launch XRP shareholder benefit programs and XRP-related settlement services.
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