SBI VC Trade, a subsidiary of the Japanese banking giant SBI Group, has teamed up with Metaplanet Inc., a Tokyo-based company known for its significant Bitcoin investments. This partnership, announced in September 2024, aims to streamline Bitcoin transactions, custody, and management, especially for corporate clients.
SBI Supports Metaplanet’s Bitcoin Strategy
Metaplanet has been actively accumulating Bitcoin as a hedge against the weakening Japanese yen and high national debt. The company recently disclosed holding over 360 Bitcoin, showcasing its commitment to a Bitcoin-centric treasury.
SBI VC Trade brings to the table a comprehensive platform that goes beyond cryptocurrency trading. It offers advanced services for corporate clients, including:
- Leveraged trading: Using crypto assets as margins for increased trading power.
- Innovative funding rate mechanism: Replacing traditional leverage fees with a market-driven approach.
- Tax exemption service: Exempting corporate clients from mark-to-market taxes on unrealized crypto gains.
This partnership allows Metaplanet to enhance its financial flexibility and explore new strategies for managing its growing Bitcoin treasury.
The Ripple Connection
This collaboration highlights SBI’s broader commitment to the crypto sector. SBI has a long-standing partnership with Ripple through SBI Ripple Asia, a consortium focused on using Ripple’s blockchain technology for cross-border payments across Asia.
SBI’s CEO, Yoshitaka Kitao, is a strong supporter of Ripple’s technology and XRP within financial operations.
This partnership signifies the growing interest in crypto management solutions tailored for corporate clients, especially as more companies integrate digital assets into their financial strategies. /p>
