Metaplanet Taps Ripple’s Partner SBI to Bolster Its Bitcoin Strategy

• Metaplanet has announced a new partnership with Ripple’s banking partner.
• The partnership will help the company bolster its Bitcoin accumulation strategy.
• Metaplanet doubled down on BTC accumulation after making it a “strategic treasury reserve asset” on May 13.

Tokyo-based investment firm Metaplanet has announced a strategic partnership with Ripple’s banking partner SBI as part of the company’s ongoing effort to bolster its Bitcoin accumulation strategy.

SBI Holdings first collaborated with Ripple in 2016 when the two companies announced their joint venture, SBI Ripple Asia. Since then, Ripple has tapped various SBI subsidiaries, including SBI Remit, which integrated XRP as a bridge within its Ripple crypto-enabled payment solution in 2021.

Metaplanet’s Tie-Up with SBI

According to a statement on September 2, Metaplanet has teamed up with SBI Group’s crypto investment service, SBI VC Trade, to access a compliant corporate custody service for its Bitcoin holdings. SBI VC Trade is registered as a digital asset exchange entity and Type 1 financial instrument business under Japan’s domestic laws and regulations.

Metaplanet said the compliance custody solution provided by SBI VC Trade would prioritize tax efficiency and offer the potential to leverage Bitcoin as collateral for financing.

“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,” the statement read. As our treasury expands, we continue to evaluate various tools and strategies that could enhance our financial flexibility.”

In a separate statement, SBI VC Trade noted that it would support Metaplanet’s Bitcoin buying strategy by providing support in trading, storage, and operation services as part of the partnership.

Metaplanet’s Bitcoin holdings stood at 360.368 BTC as of August 20, when the company acquired an additional $3.4 million of the original cryptocurrency.

Read about Metaplanet’s partnership with MicroStrategy and Bitcoin Magazine:
Metaplanet Bolsters Bitcoin Initiative with New ‘Strategic’ Partnership

Learn about Ripple’s XRP and Stellar’s XLM link:
Ripple’s XRP and Stellar’s XLM Link: Why Do They Move in Sync?