Metaplanet to Establish Hong Kong Asset Management Subsidiary to Expand Bitcoin Use
Uk Jin
Summary
- Metaplanet said it had decided to establish a wholly owned Hong Kong subsidiary, Metaplanet Asset Management Asia.
- The new subsidiary is part of Project Nova, through which the company plans to expand beyond its bitcoin (BTC) reserve business into financial services including asset management, securities and capital markets to diversify revenue streams.
- The Hong Kong subsidiary will have initial capital of $1 million, with Metaplanet holding a 100% stake, and is scheduled to be established this month.
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Japanese bitcoin treasury company Metaplanet will establish an asset management subsidiary in Hong Kong.
Metaplanet said on September 11 that its board had decided to set up a wholly owned Hong Kong unit, Metaplanet Asset Management Asia Limited.
The new subsidiary is part of Project Nova, the company’s financial platform initiative. Through Project Nova, Metaplanet plans to expand beyond its bitcoin reserve business into financial services including asset management, securities and capital markets, diversifying its revenue streams.
The Hong Kong subsidiary will have initial capital of $1 million, with Metaplanet holding a 100% stake.
The company plans to establish the unit this month.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.