Metaplanet Partners with SBI Group for Bitcoin Trading and Custody Services

Sep 2, 2024, 12:41 PM

Japan's Metaplanet Inc. has announced a strategic partnership with SBI Group, a Ripple partner, to offer Bitcoin trading, custody, and management services. This collaboration marks a significant step in Japan's cryptocurrency sector, as Metaplanet, often referred to as Japan's 'MicroStrategy,' aims to enhance its Bitcoin strategy. The partnership involves SBI VC Trade, a subsidiary of SBI Holdings, to provide compliant corporate custody services. Metaplanet, which adopted Bitcoin as a reserve asset earlier this year, plans to use Bitcoin as collateral for financing, aligning with its broader financial strategy. Simon Gerovich, the CEO, expressed enthusiasm for the partnership.