SBI Crypto Exchange Partners with Metaplanet to Handle Bitcoin
CryptoNewsTerminal Staff01 Sep, 2024
SBI Crypto Exchange Partners with Metaplanet to Handle Bitcoin
SBI VC Trade, a cryptocurrency exchange owned by the major Japanese financial group SBI Group, has announced a partnership with the Japanese-listed company Metaplanet. Metaplanet recently incorporated Bitcoin as a major asset and will see SBI VC Trade support its Bitcoin trading, custody, and operation. Metaplanet recently issued 10 billion yen worth of equity-linked bonds (BW) and announced that it would borrow 1 billion yen at an interest rate of 0.1% to purchase additional BTC. The company currently holds 360 BTC, valued at approximately $23.5 million. This partnership is a significant step for both companies. SBI VC Trade is one of the largest cryptocurrency exchanges in Japan, while Metaplanet is a well-established company with a strong track record. The partnership will allow Metaplanet to leverage SBI VC Trade's expertise in the cryptocurrency market and provide its customers with a secure and reliable platform to trade Bitcoin.
