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Metaplanet, a major Japanese Bitcoin investor often referred to as the “Japanese MicroStrategy,” is collaborating with Ripple’s banking partner, the financial services firm SBI.
Metaplanet CEO Simon Gerovich took to X on Sept. 2 to <a data-ct-non-breakable="null" href="https://x.com/gerovich/status/1830447703727452283" rel="null" target="null" text="null">announce</a> that Metaplanet has entered into a strategic partnership with SBI Group’s crypto investment service, SBI VC Trade.
Gerovich noted that effective immediately, Metaplanet’s collaboration with SBI VC Trade aims to target “Bitcoin trading and custody.” 
<figure>
 <img alt="Japanese Bitcoin investor Metaplanet works with Ripple’s partner SBI" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191b193-6da7-7484-8ffd-e08ec882cf9b">
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 Source: <a data-ct-non-breakable="null" href="https://x.com/gerovich/status/1830447703727452283" rel="null" target="null" text="null">Simon Gerovich</a>
 </figcaption>
</figure>
<h3 id="strong-compliant-corporate-custody-service-is-a-key-element-of-the-partnership-strong">Compliant corporate custody service is a key element of the partnership</h3>
“This collaboration is part of our ongoing effort to engage with leading industry stakeholders in Japan who support our corporate Bitcoin accumulation strategy,” Metaplanet’s official announcement <a data-ct-non-breakable="null" href="https://contents.xj-storage.jp/xcontents/33500/f7c642e1/bf33/466c/9dca/88ae8b08b02b/140120240828577920.pdf" rel="null" target="null" text="null">reads</a>.
The company also mentioned that one of the key elements of the collaboration is access to a compliant corporate custody service that “prioritizes tax efficiency and offers the potential to utilize Bitcoin as collateral for financing.” The announcement notes:
<blockquote>
 “As our treasury expands, we continue to evaluate various tools and strategies that could enhance our financial flexibility. Any impact on financials or material events arising from this partnership will be announced accordingly.”
</blockquote>
<h3 id="strong-sbi-will-provide-metaplanet-with-support-in-trading-and-storage-strong">SBI will provide Metaplanet with support in trading and storage</h3>
<a data-ct-non-breakable="null" href="https://www.sbivc.co.jp/newsview/metaplanet_vct" rel="null" target="null" text="null">According</a> to an official announcement by SBI, the financial services firm will assist Metaplanet in addressing its Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null">BTC</a>) buying strategy by providing various support in trading, storage and operation.
“Focused on Bitcoin’s rarity and non-political monetary policy, Metaplanet appointed Bitcoin as a major financial asset and advanced Bitcoin’s accumulation through both debt and equity financing,” SBI wrote.
SBI noted that SBI VC Trade is a wholly-owned subsidiary of SBI Holdings, which is listed on the Tokyo Stock Exchange prime market. The platform operates a cryptocurrency asset exchange business in accordance with domestic rules and regulations.
A spokesperson for Metaplanet told Cointelegraph that SBI VC Trade is “not necessarily” the sole crypto custody provider for the firm. “We do not disclose exactly the makeup of our custody breakdown,” the firm stated, adding:
<blockquote>
 “Metaplanet will continue to partner with key service providers and industry stakeholders, with the goal of helping to pave the way for corporate bitcoin strategies in Japan.”
</blockquote>
<h3 id="strong-exemption-service-for-end-of-period-valuation-tax-is-among-the-offered-services-strong">Exemption service for end-of-period valuation tax is among the offered services</h3>
Among various services offered by SBI to Metaplanet, the company will provide the Japanese “MicroStrategy” with a new tax-related service that excludes corporate taxes on the benefits of crypto assets.
SBI <a data-ct-non-breakable="null" href="https://www.sbivc.co.jp/newsview/jejufrfm1a" rel="nofollow noopener" target="_blank" text="null">debuted</a>&nbsp;the service in June 2024, dubbed “Exclusion Service for End-of-Period Valuation Taxation.” It aims to enable corporate crypto investors to hold assets “with confidence in the long run.”
The SBI’s tax exemption service will allow Metaplanet to not pay taxes on its unrealized gains on crypto holdings as a long-term investor, a spokesperson for Metaplanet noted. That would be one of the key services provided by SBI, the representative said:
<blockquote>
 “In Japan corporates are subject to unrealized gains on their crypto holdings. However, this can be avoided by utilizing a dedicated regulated custodian in Japan who qualifies your bitcoin holdings as long-term.”
</blockquote>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/japan-web3-industry-boost-tax-reforms-startups" rel="null" target="null" text="null">Japan eyes Web3 growth with startup-focused tax reforms</a>
Additionally, SBI VC Trade provides Metaplanet with access to leveraged trading with real margin, enabling the firm to use all SBI-supported crypto assets as margin.
Japanese SBI Group has emerged as a major partner of Ripple, a company behind the XRP (<a data-ct-non-breakable="null" href="https://cointelegraph.com/xrp-price-index" rel="null" target="null" text="null">XRP</a>) cryptocurrency.
In April 2024, SBI Group <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sbi-group-xrpl-japan-ripple" rel="" target="_self" text="null">deployed the XRP Ledger blockchain</a> supply chain solutions to introduce XRPL enterprise solutions to the Japanese market.
SBI Remit, the remittance-focused arm of the Japanese financial services conglomerate SBI Holdings, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ripple-based-moneytap-adopted-by-three-japanese-banks" rel="null" target="null" text="null">added support for its mobile MoneyTap application</a>&nbsp;to three local banks in 2023.
Multiple other SBI subsidiaries have been collaborating with Ripple for years, launching <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sbi-holdings-subsidiary-continues-xrp-benefit-program" rel="null" target="null" text="null">XRP shareholder benefits programs</a> and XRP-related settlement services.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/telegram-ceo-pavel-durov-opensea-sec-wells-notice-binance-hodlers-digest/" rel="null" target="null" text="null">Telegram CEO cannot leave France, OpenSea receives Wells notice, and more: Hodler’s Digest, Aug. 25 – 31</a>

Japanese Bitcoin investor Metaplanet works with Ripple’s partner SBI

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