SBI VC Trade Collaborations
SBI VC Trade, a subsidiary of Japan’s financial powerhouse SBI Holdings, has recently announced new collaborations with DMM Bitcoin and Metaplanet.
- SBI Holdings is a leader in internet banking in Japan with over $190 billion in total assets.
- DMM Bitcoin is a distressed Japan-based crypto exchange.
- Metaplanet is known for its aggressive Bitcoin acquisitions.
SBI Holdings and Blockchain
SBI Holdings has been instrumental in driving blockchain adoption across Asia and expanding its influence in the blockchain sector through strategic partnerships and investments.
Through SBI VC Trade, the firm operates a crypto exchange platform that fosters innovation in financial services.
Transfer of DMM Assets
DMM Bitcoin, a crypto exchange that suffered a $305 million hack in May 2024, announced its decision to cease operations by March 2025.
- All user assets, including Japanese yen and cryptocurrencies, will be transferred to SBI VC Trade.
- The agreement was finalized on Nov. 29.
- The transfer will not include leveraged transaction positions and must be settled beforehand.
SBI VC Trade’s CEO, Tomohiko Kondo, highlighted plans to support 14 cryptocurrencies during this transition.
Metaplanet Bitcoin Shareholder Program
Metaplanet, in collaboration with SBI VC Trade, has announced a shareholder benefit program aimed at increasing Bitcoin adoption in Japan.
- 30 million yen worth of Bitcoin will be given away to 2,350 shareholders.
- 50 shareholders will each receive $BTC worth 100,000 yen.
This program is part of Metaplanet’s efforts to expand its Bitcoin holdings and promote Bitcoin adoption in the region.
