Japanese Public Company Metaplanet Partners with Hoseki to Launch Bitcoin Proof of Reserves

Metaplanet Inc., a Japanese public company listed on the Tokyo Stock Exchange, has announced a partnership with Hoseki, a global leader in Bitcoin verification solutions, to launch a Bitcoin proof of reserves system. This collaboration aims to enhance transparency and trust in Metaplanet's Bitcoin holdings through Hoseki Verified, a Bitcoin verification product.

“Companies like Metaplanet will define the future of the Bitcoin industry,” said Sam Abbassi, Founder and CEO of Hoseki. “We are thrilled to support them in utilizing this core feature of the Bitcoin monetary network - its radical audit-ability and transparency.“

Hoseki Verified offers a public dashboard providing real-time visibility into Bitcoin holdings, showcasing verified assets with custodians such as Coinbase, BitGo, and Gemini. This initiative ensures that investors and stakeholders can verify the integrity of Metaplanet's Bitcoin holdings in real-time.

“As Bitcoin adoption proliferates globally, the importance of transparency cannot be overstated,” said Dylan LeClair, Director of Bitcoin Strategy at Metaplanet. “Our partnership with Hoseki aligns with Bitcoin's 'Don't Trust, Verify' ethos and pioneers transparency in a world where money exists on a transparent, auditable global ledger. This marks the beginning of a series of initiatives Metaplanet will undertake to uphold and advance these principles.”

Earlier this year, Metaplanet adopted the MicroStrategy Bitcoin corporate playbook by purchasing Bitcoin and holding it as the company's primary treasury reserve asset. Since the initial purchase, the company has continuously bought more and more Bitcoin. Just yesterday, the company bought an additional ¥200 million worth of BTC.

JUST IN: 🇯🇵 Japanese public company Metaplanet buys another ¥200 million worth of #Bitcoin pic.twitter.com/jMuBtYaNqI

— Bitcoin Magazine (@BitcoinMagazine) July 22, 2024

Disclaimer: Bitcoin Magazine is wholly owned by BTC Inc., which also operates UTXO Management, a regulated capital allocator focused on the digital assets industry and invested in Metaplanet. UTXO invests in a variety of Bitcoin businesses, and maintains significant holdings in digital assets.