Bitcoin

Partner

<ul>
 <li>Japanese hotel management company Metaplanet, a seasoned BTC holder, has partnered with SBI’s crypto investment service for Bitcoin trading and custody.</li>
 <li>The partnership is geared towards regulatory compliance and tax efficiency, and with SBI being one of Ripple’s prime partners, XRP could soon be added.</li>
</ul>
Metpalanet Inc., one of Japan’s most prolific Bitcoin holders, is expanding its BTC presence as it seeks to access compliant custody services.
Metaplanet announced the new partnership with SBI VC Trade today.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 【SBI VCトレード × METAPLANET】 ビットコイン取引・保管・運用における提携開始<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;">
 メタプラネット（<a href="https://twitter.com/Metaplanet_JP?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Metaplanet_JP</a> <a href="https://twitter.com/gerovich?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@gerovich</a>）は、「ビットコインファースト、ビットコインオンリー」の戦略のもと、当社との提携によりBTCの取引・保管・運用を高度化<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4a1.png" alt="💡" class="wp-smiley" style="height: 1em; max-height: 1em;">
 詳細はこちら▼<a href="https://t.co/6YaEDkJKaJ" rel="noopener noreferrer nofollow">https://t.co/6YaEDkJKaJ</a> <a href="https://t.co/6Do5kQmhws" rel="noopener noreferrer nofollow">pic.twitter.com/6Do5kQmhws</a>
 — SBI VC Trade (SBI VCトレード） (@sbivc_official) <a href="https://twitter.com/sbivc_official/status/1830441979765014627?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 2, 2024</a>
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SBI VC Trade is the crypto services arm of SBI Group, one of Japan’s largest integrated financial service companies.
“This collaboration is part of our ongoing effort to engage with leading industry stakeholders in Japan who support our corporate Bitcoin accumulation strategy,” Metaplanet stated in its <a href="https://contents.xj-storage.jp/xcontents/33500/f7c642e1/bf33/466c/9dca/88ae8b08b02b/140120240828577920.pdf" target="_blank" rel="noopener noreferrer nofollow">announcement</a>.
Metaplanet has adopted the <a href="https://www.crypto-news-flash.com/bloomberg-reports-michael-saylors-bitcoin-holdings-now-worth-1-billion/" target="_blank" rel="noopener noreferrer nofollow">Michael Saylor strategy</a> of corporate BTC accumulation in recent years as it seeks to diversify its portfolio. This has earned it the nickname “Japan’s Microstrategy,” an ode to the American software services provider that has now become more famous for its BTC than its actual services.
In July, Metaplanet acquired 22 BTC, bringing its total ownership to 225.611 BTC, worth 2.25 billion yen, or $13 million.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 *Metaplanet purchases additional 21.88 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>* <a href="https://t.co/zCXzKFudog" rel="noopener noreferrer nofollow">pic.twitter.com/zCXzKFudog</a>
 — Metaplanet Inc. (@Metaplanet_JP) <a href="https://twitter.com/Metaplanet_JP/status/1813001960251138503?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 16, 2024</a>
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Metaplanet, a Tokyo Stock Exchange-listed company whose bread and butter is hotel development and operations, has defended <a href="https://www.crypto-news-flash.com/japans-metaplanet-plans-massive-bitcoin-investment-70-million-to-transform-financial-landscape/" rel="noopener noreferrer nofollow">its BTC purchases</a>, saying they are to hedge against inflation at a time when low interest rates have dealt a massive blow to the Japanese yen.
“Metaplanet has sharply adjusted its treasury operations in order to navigate through Japan’s challenging economic landscape, while at the same time setting a local precedent for corporate innovation in asset management,” the company said in May.
Back to the latest partnership: Metaplanet’s target is “access to a compliant corporate custody service that prioritizes tax efficiency and offers the potential to utilize Bitcoin as collateral for financing,” it stated in its press release, adding:
<blockquote>
 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. As our treasury expands, we continue to evaluate various tools and strategies that could enhance our financial flexibility.
</blockquote>
Just like Microstrategy, Metaplanet has focused exclusively on BTC thus far. However, the partnership with SBI has given the XRP community the belief that the token could soon land on the Japanese firm’s books.
SBI remains one of the XRP community’s biggest allies. The banking group has been pushing XRP adoption in the East Asian nation, leading to over 60 of the country’s banks working on integrating the digital token, as we <a href="https://www.crypto-news-flash.com/xrp-to-fuel-payment-platform-for-61-japanese-banks-on-ripple-network-by-2025-report/" rel="noopener noreferrer nofollow">reported</a>. SBI could also be crucial in an XRP ETF and its partnership <a href="https://www.crypto-news-flash.com/ripple-partner-sbi-holdings-franklin-templeton-partnership-could-spot-xrp-etfs-be-next/" target="_blank" rel="noopener noreferrer nofollow">with Franklin Templeton</a> has the community excited.
XRP trades at $0.5534, dipping 0.7% in the past day, in line with a similar dip in the overall market cap.
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Ripple Partner SBI Teams Up with Japan’s Metaplanet for Bitcoin Management—Could XRP Be Next?

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