SBI VC Trade, a subsidiary of Japan’s financial powerhouse SBI Holdings, has announced exciting new collaborations with DMM Bitcoin and Metaplanet, two prominent players in the cryptocurrency space.
SBI Holdings, known for its leadership in internet banking in Japan and its global influence in blockchain technologies, boasts over $190 billion in total assets as of March 2024. DMM Bitcoin, a Japan-based crypto exchange that faced a $305 million hack in May 2024, has decided to cease operations by March 2025. In a strategic move, DMM Bitcoin has agreed to transfer all user assets, including Japanese yen and cryptocurrencies, to SBI VC Trade. This collaboration is a testament to SBI’s commitment to expanding its reach in the blockchain sector.
On the other hand, Metaplanet, renowned for its aggressive Bitcoin acquisitions in 2024, has launched a shareholder benefit program in partnership with SBI VC Trade. The program will see 30 million yen worth of Bitcoin distributed to 2,350 shareholders through a lottery, with 50 lucky shareholders receiving $BTC worth 100,000 yen each. This initiative aims to promote Bitcoin adoption in Japan by offering potential users the top digital asset for free.
SBI VC Trade, through its CEO Tomohiko Kondo, has expressed their readiness to support the transfer of DMM Bitcoin customer accounts and assets, ensuring a smooth transition for affected users. The partnership between DMM Bitcoin and SBI VC Trade not only safeguards the assets of DMM Bitcoin users but also introduces them to a more stable and reliable platform.
Overall, these collaborations highlight SBI Holdings’ proactive approach to driving innovation in the financial services sector through strategic partnerships and investments in the blockchain space. With a focus on fostering growth and adoption of cryptocurrencies in Japan, SBI VC Trade continues to play a pivotal role in shaping the country’s evolving crypto landscape.