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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/metaplanet-partners-with-sbi-for-bitcoin-services/" data-wpel-link="internal">Metaplanet Partners with SBI for Bitcoin Services</a> 
A major Bitcoin investor, Metaplanet, is partnering with <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">financial services</a> firm SBI, Ripple’s banking partner. Metaplanet CEO Simon Gerovich announced on September 2 via X that Metaplanet has entered into a strategic partnership with SBI Group’s crypto investment service, SBI VC Trade. Gerovich stated that Metaplanet aims to provide Bitcoin trading and custody services in collaboration with SBI VC Trade, effective immediately. 
<h2 class="p1" style="text-align: justify" id="notable-move-by-metaplanet-team">Notable Move by Metaplanet Team</h2> 
Metaplanet’s official announcement highlighted that this partnership is part of their efforts to engage with leading industry stakeholders in Japan, supporting their corporate Bitcoin accumulation strategy. The company also noted that one of the key elements of the partnership is access to a compliant corporate custody service that prioritizes tax efficiency and offers the potential to use Bitcoin as collateral for financing: 
<blockquote> 
 “As our treasury expands, we continue to evaluate various tools and strategies to enhance our financial flexibility. Any impact on financial or significant events resulting from this partnership will be announced accordingly.” 
</blockquote> 
According to an official announcement by SBI, the financial services firm will assist Metaplanet in addressing its Bitcoin acquisition strategy by providing various supports in trading, storage, and operations: 
<blockquote> 
 “Focusing on Bitcoin’s scarcity and non-political monetary policy, Metaplanet has designated Bitcoin as a significant financial asset and advanced its accumulation through both debt and equity financing.” 
</blockquote> 
SBI stated that SBI VC Trade is a wholly-owned subsidiary of SBI Holdings, listed on the main market of the Tokyo Stock Exchange. The platform operates a cryptocurrency asset exchange in compliance with local rules and regulations. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384904" src="https://coin-turk.com/wp-content/uploads/2024/09/simon.webp" alt="" width="500" height="155"> 
<h2 class="p1" style="text-align: justify" id="details-on-the-matter">Details on the Matter</h2> 
Among the various services offered by SBI to Metaplanet, the company will provide a new tax-related service that excludes corporate taxes on the benefits of crypto assets to Japan’s MicroStrategy. SBI launched this service, named Exclusion Service for End-of-Period Valuation Taxation, in June 2024. This aims to ensure that corporate crypto investors can securely hold their assets in the long term. 
Additionally, SBI VC Trade provides Metaplanet with access to leveraged trading with real margin, allowing the company to use all SBI-supported crypto assets as margin. Japanese SBI Group has emerged as a significant partner of Ripple, the company behind the <a href="https://en.coin-turk.com/blackrock-takes-action-xrp-coin-etf-application-officially-submitted/" data-wpel-link="internal">XRP</a> cryptocurrency. 
In April 2024, SBI Group deployed XRP Ledger blockchain solutions to introduce XRPL corporate solutions to the Japanese market. SBI Remit, the remittance-focused arm of Japanese financial services conglomerate SBI Holdings, added support for three local banks to the <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener" data-wpel-link="exclude">mobile</a> MoneyTap app in 2023. Many other SBI subsidiaries have been collaborating with Ripple for years, launching XRP shareholder benefit programs and XRP-related settlement services. 
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The post <a href="https://en.coin-turk.com/metaplanet-partners-with-sbi-for-bitcoin-services/" data-wpel-link="internal">Metaplanet Partners with SBI for Bitcoin Services</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Metaplanet Partners with SBI for Bitcoin Services

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