Metaplanet Strikes Deal for Siiibo Securities to Build Bitcoin Yield Products

Metaplanet announced it has agreed to acquire Siiibo Securities in a 2.1 billion yen ($13.1 million) share transfer deal to form a securities arm. The Tokyo-listed Bitcoin treasury company will take 100% ownership of the licensed financial instruments business, and after closing—expected in July—Siiibo Securities will become a wholly owned subsidiary renamed Metaplanet Securities.

CEO Simon Gerovich described the acquisition as the first step in Project Nova, the company’s strategy to build a Bitcoin-centric financial ecosystem in Japan. “We will develop and distribute Bitcoin-related yield products directly to Japanese investors, supported by the 40,177 BTC on our balance sheet,” he wrote.

The firm said Siiibo's licensing, corporate bond platform and customer base would let it develop income-oriented products such as BTC-linked bonds, while giving direct access to investors seeking yield in Japan.

Japan, Tokyo

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