Metaplanet Teams Up With SBI VC Trade for Bitcoin Custody

Japanese investment adviser Metaplanet (3350), which adopted bitcoin (BTC) as a reserve asset earlier this year, said it tapped SBI VC Trade to provide custody services.

SBI VC Trade, a unit of Tokyo-based SBI Holdings, prioritizes tax efficiency and offers the potential to use BTC as collateral for financing, Metaplanet said on Monday . SBI Holdings is a financial services company that manages around 27.2 trillion yen ($185 billion). SBI VC Trade is a crypto exchange regulated by Japan's Financial Services Agency.

"This aligns with our vision of a modern financial service provider and adds flexibility to our corporate strategy, complementing our ongoing efforts in equity and debt financing," Metaplanet said.

In May, Metaplanet said it was adopting bitcoin as a reserve asset to hedge against the volatility of the yen. As of Aug. 20 it held 360.4 BTC ($21 million).

The reserve-asset strategy mimics software developer MicroStrategy (MSTR), which has been buying bitcoin since 2020 and now holds over 226,000 BTC, more than 1% of all the bitcoin that will ever exist.

Metaplanet shares fell 12.4% to 1,220 yen ($8.30) on Monday.

Read More: Attention Bitcoin Traders, the Japanese Yen Is Strengthening Again

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。