Japanese investment firm Metaplanet Inc. has partnered with SBI VC Trade, a subsidiary of SBI Group, to enhance its Bitcoin accumulation strategy. This collaboration aims to strengthen Metaplanet’s approach by engaging with key industry players like SBI Holdings.

As part of the partnership with SBI Group, Metaplanet will access a corporate custody service that focuses on compliance and tax efficiency. Additionally, Metaplanet may use Bitcoin as collateral for financing.

SBI VC Trade is a fully licensed crypto trading platform regulated by the Financial Services Agency of Japan. It provides custody and trading solutions for institutional clients, including hedge funds, asset managers, and corporations like Metaplanet.

“This aligns with our vision of a modern financial services provider and adds flexibility to our corporate strategy, complementing our ongoing efforts in equity and debt financing,” Metaplanet stated.

Metaplanet plans to disclose the recent partnership’s impact on its financials or material events in subsequent announcements.

Metaplanet has been actively increasing its investments in Bitcoin in response to Japan’s economic downturn and yen depreciation. Recently, the Bank of Japan raised its benchmark interest rate from a negative or near-zero range to 0.25% to strengthen the yen.

Since publicly announcing its Bitcoin-first strategy, Metaplanet has acquired 360.368 Bitcoins for approximately 3.45 billion yen, with the latest purchase on Aug. 20. The firm also plans to raise $70 million through stock rights offerings, allocating 80% of those funds to buying Bitcoin.

Metaplanet’s Bitcoin accumulation strategy has earned it the nickname “Asia’s MicroStrategy.” The company’s shares have seen significant growth, up over 662% year to date.

Similar to MicroStrategy, Metaplanet has been steadily increasing its Bitcoin holdings. MicroStrategy, the world’s largest corporate holder of Bitcoin, has accumulated 226,331 BTC and plans to purchase more by selling its class A shares.

For more updates and news on cryptocurrencies, investing, and finance, stay tuned to Global Crypto News.

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