Metaplanet and SBI Group Partner to Boost Bitcoin Trading and Custody

Metaplanet Inc., now recognized as Japan’s equivalent to MicroStrategy, has forged a key partnership with SBI Group, known for its involvement with Ripple Labs in the cryptocurrency sector.

This new alliance, announced on September 2, will initially focus on Bitcoin trading, custody, and management, signaling a major step towards broader crypto adoption and future collaborations.

Metaplanet, headquartered in Japan, has teamed up with SBI VC Trade, a branch of SBI Group, to enhance its Bitcoin strategy. This collaboration aims to provide Metaplanet with robust corporate custody solutions, ensuring tax efficiency and enabling the use of Bitcoin as collateral for further investments.

Simon Gerovich, CEO of Metaplanet, stated that this partnership supports their vision of evolving into a cutting-edge financial services provider, complementing their equity and debt financing strategies. Further details on financial impacts and significant developments will be shared later.

SBI Group continues to grow its influence in the crypto industry, working with Ripple on various projects, including new payment solutions and mobile applications. SBI Digital Community’s recent collaboration with Ripple aims to boost XRP adoption and explore NFT opportunities on the XRP Ledger.

The new partnership between Metaplanet and SBI Group is expected to strengthen Bitcoin’s role in Japan and foster additional industry collaborations. Currently, Bitcoin is trading at $57,807, having decreased slightly by 0.60% in the last 24 hours, but with trading volumes up by 77%, indicating strong market interest.