BTC
by BSCN
September 2, 2024
Metaplanet will be able to use Bitcoin as collateral for financing, adding flexibility to its corporate strategy.
Metaplanet Inc., a Tokyo Stock Exchange-listed firm renowned for its aggressive Bitcoin acquisition strategy, announced a strategic partnership with SBI Group. SBI Group, a major player in Japan's financial sector and a partner of Ripple, will collaborate with Metaplanet to enhance its Bitcoin trading, custody, and management services.
This partnership aims to solidify Metaplanet's position as a leading Bitcoin-focused firm while also boosting SBI's presence in the crypto market.
Asia's MicroStrategy, Metaplanet Inc., has made headlines by acquiring over 360 bitcoins worth approximately $21 million. The firm's strategy centers around leveraging Bitcoin as a primary financial asset, particularly in response to Japan’s economic challenges, such as the yen's depreciation.
The partnership with SBI Group, which operates through its fully licensed crypto trading platform, SBI VC Trade, will provide Metaplanet with crucial support in trading, storage, and operational management of its Bitcoin assets.
Per reports, SBI VC Trade, regulated by Japan’s Financial Services Agency, is dedicated to institutional clients, offering services that align with Metaplanet’s corporate Bitcoin accumulation strategy.
One of the key benefits of this collaboration is Metaplanet's access to SBI’s corporate custody services, which focus on compliance and tax efficiency.
The custody services will reportedly provide a secure and compliant environment for storing Bitcoin, ensuring that Metaplanet’s assets are protected under Japan’s stringent regulatory framework.
Moreover, Metaplanet plans to utilize Bitcoin as collateral for financing, a strategy that could offer the firm additional financial flexibility. Using Bitcoin in this manner, Metaplanet intends to increase its liquidity while maintaining its long-term goal of accumulating Bitcoin as a core asset over time.
Worth noting, in April 2024, SBI Group introduced XRP Ledger blockchain supply chain solutions to the Japanese market.
Metaplanet’s aggressive Bitcoin acquisition strategy has positioned the firm as a significant player in the global crypto market. The company’s shares have surged over 662% year to date.
Another recent public buyer of Bitcoin was Marathon Digital Holdings, which sold $300 million of convertible notes to purchase the cryptocurrency. Additionally, Semler Scientific issued equity and debt to purchase Bitcoin.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article
Latest News
4h : 7m ago
Weekly Article Recap: 9/09-9/13
September 13, 2024
MicroStrategy Buys Another $1.11B in Bitcoin, Reaches 244,800 BTC Holdings
September 13, 2024
ParaFi Capital Chooses Avalanche for Tokenization of its $1.2B Fund
September 13, 2024
Sky Protocol’s Recent Proposal Could Impact $200M Loans Backed by Wrapped Bitcoin: Report
September 13, 2024
Tether Faces Transparency Issues with its US Dollar Reserves: Report
September 12, 2024
eToro Limits U.S. Crypto Offerings to BTC, ETH, and BCH After $1.5M SEC Settlement
September 12, 2024
Searching for a Telegram Trading Bot? Maestro Might Be the Perfect Solution
September 12, 2024
FTX/Alameda Wallet Unstakes $24M SOL Amid Ongoing Investigations: Report