Japanese investment firm Metaplanet has announced a collaboration with SBI Holdings’ crypto division, SBI VC Trade, to enhance both companies’ Bitcoin trading, storage, and management capabilities.
SBI VC Trade is a cryptocurrency exchange platform offering spot and margin trading for various digital assets. According to the press release, which was published today, September 2, 2024, the firm would provide Metaplanet access to a “compliant corporate custody service that prioritizes tax efficiency and offers the potential to utilize Bitcoin as collateral for financing.”
Metaplanted noted it is actively exploring new tools and strategies to boost its financial agility as its treasury expands. This partnership is expected to enhance flexibility in its corporate and financial strategy while supporting ongoing equity and debt financing efforts. “This collaboration is part of our ongoing effort to engage with leading industry stakeholders in Japan who support our corporate Bitcoin accumulation strategy,” the press release stated.
The partnership is one of the latest Metaplanet has been actively forming to strengthen its Bitcoin endeavours. Most recently, it announced a strategic collaboration with Hoseki, a global leader in Bitcoin verification solutions. This partnership aimed to enhance transparency in Metaplanet’s Bitcoin holdings by leveraging Hoseki’s cutting-edge verification technology, allowing users to independently verify the company’s Bitcoin reserves.
Meanwhile, Metaplanet has also continued its aggressive Bticoin purchase campaign. It recently secured a one billion yen ($6.8 million) loan to expand its Bitcoin holdings. The loan, which was obtained at an impressively low annual interest rate of 0.1%, is set to be repaid over six months.
The firm also recently announced that it would initiate a ¥10.08 billion ($69.44 million) stock acquisition rights allotment. The funds from this offering are also earmarked for Bitcoin purchases, with the company planning to invest approximately 8.5 billion yen ($58.76 million) in Bitcoin through this new stock issuance.
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