Japanese funding adviser Metaplanet, which adopted bitcoin as a reserve asset earlier this 12 months, tapped SBI VC Commerce to supply custody companies. Crypto alternate SBI VC Commerce, a unit of Tokyo-based SBI Holdings, affords the potential to make use of BTC as collateral for financing, Metaplanet mentioned on Monday. In Might, Metaplanet mentioned it was adopting bitcoin as a reserve asset to hedge towards the volatility of the yen. As of Aug. 20, it held 360.4 BTC ($21 million). The reserve-asset technique mimics software program developer MicroStrategy, which has been shopping for bitcoin since 2020 and now holds over 226,000 BTC, greater than 1% of all of the bitcoin that may ever exist.
