Metaplanet to Acquire Japanese Brokerage, Plans July Close
Summary
- Metaplanet said it signed an agreement to acquire a 100%% stake in Japanese brokerage Siiibo Securities.
- The company said the acquisition is part of its long-term strategy, Project Nova, aimed at building a Bitcoin-centered financial ecosystem in Japan.
- Metaplanet said it plans to develop and sell Bitcoin-related financial products after acquiring Siiibo Securities, backed by about 40,000 Bitcoin held in reserve.
Forecast Trend Report by Period
Metaplanet, Japan’s largest corporate Bitcoin treasury company, is set to acquire a domestic brokerage.
The company said on June 12 on its official X account that it signed an agreement to acquire a 100% stake in Siiibo Securities. Chief Executive Officer Simon Gerovich said the transaction is scheduled to close in July, after which the company will be renamed Metaplanet Securities.
The deal marks Metaplanet’s first brokerage acquisition. Gerovich described it as part of Project Nova, the company’s long-term strategy to build a Bitcoin-centered financial ecosystem in Japan.
Following the acquisition, Metaplanet plans to develop and sell Bitcoin-related financial products. The company said those offerings will be backed by about 40,000 Bitcoin held in reserve.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
