SBI VC Trade, a prominent subsidiary of Japan’s financial giant SBI Holdings, has recently announced exciting new collaborations with DMM Bitcoin and Metaplanet, further solidifying its position in the blockchain sector.
SBI Holdings, known for its leadership in internet banking in Japan and global expertise in blockchain technologies, boasts total assets exceeding $190 billion as of March 2024. DMM Bitcoin, a struggling crypto exchange based in Japan, and Metaplanet, renowned for its aggressive Bitcoin acquisitions, are the latest partners to join forces with SBI VC Trade.
These strategic partnerships signal SBI’s ongoing commitment to expanding its influence in the blockchain industry. Leveraging its expertise and resources, SBI Holdings has been instrumental in driving blockchain adoption across Asia, particularly through its crypto exchange platform, SBI VC Trade, which facilitates innovation through impactful alliances and strategic investments.
One significant development is the transfer of assets from DMM Bitcoin to SBI VC Trade. Following a $305 million hack in May 2024, DMM Bitcoin announced its decision to cease operations by March 2025. As part of this transition, all user assets, including Japanese yen and cryptocurrencies, will be transferred to SBI VC Trade by November 29. While this move aims to preserve user assets and improve the overall trading experience, leveraged transaction positions will not be included in the transfer.
CEO of SBI VC Trade, Tomohiko Kondo, confirmed plans to support 14 cryptocurrencies during the asset transfer process, ensuring a seamless transition for affected users. This collaboration not only marks a significant shift in Japan’s crypto landscape but also underscores SBI VC Trade’s commitment to providing a stable and secure platform for users.
In a parallel development, Metaplanet announced a unique shareholder benefit program in collaboration with SBI VC Trade. The program offers shareholders a chance to win a total of 30 million yen worth of Bitcoin through a lottery, with 50 lucky shareholders receiving BTC worth 100,000 yen each. This initiative aims to promote Bitcoin adoption in Japan by providing potential users with the leading digital asset for free.
Metaplanet, known for its aggressive Bitcoin acquisitions in 2024, has amassed 1,142 BTC valued at approximately $110 million, making it one of the largest Bitcoin holders in Asia. This collaboration with SBI VC Trade further solidifies its position in the market and highlights its commitment to promoting Bitcoin adoption in Japan.
Overall, these collaborations between SBI VC Trade, DMM Bitcoin, and Metaplanet showcase the growing influence of SBI Holdings in the blockchain sector and underscore its dedication to driving innovation and growth in the industry.