Metaplanet Partners With SBI VC Trade To Enhance Bitcoin Holdings

According to BlockBeats, on September 2, Japanese publicly traded company Metaplanet announced a partnership with SBI VC Trade, the cryptocurrency division of financial services giant SBI Group. This collaboration aims to support Metaplanet's ongoing efforts to increase its corporate Bitcoin holdings. The partnership allows Metaplanet to utilize SBI's custodial services, focusing on tax efficiency and the potential to use Bitcoin as collateral for financing. Metaplanet stated that as the company's funds grow, it will continue to explore financial instruments that offer greater 'financial flexibility.' To date, Metaplanet has acquired 360 Bitcoins (worth $207 million), using its primary reserve asset as collateral to enhance its ability to secure equity and debt financing.