Metaplanet Partners with SBI VC Trade for Bitcoin Custody Services

Japanese investment adviser Metaplanet (3350) has taken a significant step in enhancing its Bitcoin strategy by partnering with SBI VC Trade for custody services. Earlier this year, Metaplanet adopted Bitcoin (BTC) as reserve asset, and the decision to engage SBI VC Trade, a subsidiary of SBI Holdings, aligns with their ongoing efforts to secure and leverage their cryptocurrency holdings.

SBI VC Trade: A Strategic Custody Choice

SBI VC Trade, a crypto exchange regulated by Japan’s Financial Services Agency, offers several advantages, including tax efficiency and the potential use of Bitcoin as collateral for financing. This partnership with Metaplanet reflects a strategic move to add flexibility to the firm’s financial operations. SBI Holdings, the parent company, manages an impressive 27.2 trillion yen ($185 billion) in assets, underscoring the significant backing behind the custody provider.

Metaplanet expressed that this partnership is in line with their vision of evolving as a modern financial service provider. The collaboration with SBI VC Trade not only complements their equity and debt financing efforts but also reinforces their commitment to integrating cryptocurrency into their broader corporate strategy.

In May, Metaplanet announced its decision to adopt Bitcoin as a reserve asset, aiming to hedge against the yen’s volatility. As of August 20, the firm held 360.4 BTC, valued at approximately $21 million. This approach mirrors that of software company MicroStrategy, which has been accumulating Bitcoin since 2020 and now holds over 226,000 BTC—more than 1% of the total Bitcoin supply.

Despite these strategic moves, Metaplanet’s shares experienced a 12.4% drop, closing at 1,220 yen ($8.30) on Monday. However, the firm remains focused on its long-term strategy, leveraging Bitcoin as a key component of its financial framework.