SBI VC Trade, a subsidiary of Japanese financial powerhouse SBI Holdings, has unveiled new partnerships with DMM Bitcoin and Metaplanet.
SBI Holdings is a leader in internet banking in Japan and a global leader in blockchain technologies. As of March 2024, the company held more than $190 billion in total assets. DMM Bitcoin is an ailing Japanese crypto exchange, while Metaplanet is known for its aggressive Bitcoin acquisitions this year.
Industry observers pointed out that these partnerships reflect SBI’s commitment to expanding its influence in the blockchain sector.
Over the years, SBI Holdings has played a key role in the Japanese financial market and used its expertise to drive blockchain adoption across Asia. Through SBI VC Trade, the company operates a crypto exchange platform that drives innovation in financial services by forming impactful alliances and strategic investments.
Transfer of DMM assets
On December 2, DMM Bitcoin, a cryptocurrency exchange that suffered a $305 million hack in May 2024, was announced that it would cease operations in March 2025.
Before then, the company said it would transfer all user assets, including Japanese yen and cryptocurrencies, to SBI VC Trade. This agreement was finalized on November 29.
The May hack, linked to North Korea’s Lazarus Group, led to strict platform restrictions, including suspend withdrawals and spot trading.
These measures severely impacted the user experience, forcing DMM Bitcoin to migrate its accounts and assets. However, the transfer does not include leveraged transaction positions and must be settled in advance.
SBI VC Trade CEO Tomohiko Kondo highlighted plans to support 14 cryptocurrencies during this transition. He declared:
“We have reached a basic agreement to transfer DMM Bitcoin customer accounts and deposited assets to SBI VC Trade. There are 14 different types of cryptocurrencies available, and we are preparing to process them all through SBIVC.”
He added that both companies will finalize the details of the asset transfer, ensuring a smooth transfer for affected users.
The departure of DMM Bitcoin marks a significant shift in the Japanese crypto landscape. However, the partnership with SBI VC Trade guarantees the preservation of its users’ assets and introduces them to a more stable platform.
Metaplanet Bitcoin Shareholder Program
In a parallel development, Bitcoin-focused investment firm Metaplanet announced a shareholder benefit program in partnership with SBI VC Trade.
Metaplanet CEO Simon Georvich said:
“A total of 30 million yen worth of Bitcoin will be given away to 2,350 shareholders through a lottery, and 50 shareholders will each receive $BTC worth 100,000 yen.”
He added that the program aims to increase Bitcoin adoption in Japan by offering potential users the best digital assets for free.
Metaplanet has been aggressively growing its Bitcoin holdings in 2024, accumulating 1,142 BTC worth approximately $110 million. This makes it one of the largest Bitcoin holders in Asia.
