Metaplanet is expanding its crypto strategy with a $13 million acquisition of Siiibo Securities, a licensed Type I brokerage firm known for its role in Japan’s online corporate bond market.
The company, currently the third largest corporate holder of Bitcoin, said the deal is expected to close in July. Once completed, Siiibo Securities will be rebranded as Metaplanet Securities, according to CEO Simon Gerovich.
Gerovich described the acquisition as the company’s first major purchase and the initial execution step in its broader initiative called Project Nova, which aims to build a Bitcoin focused financial ecosystem in Japan.
Building a Bitcoin centered financial platform
Metaplanet began accumulating Bitcoin a few years ago, following a strategy similar to Strategy, and has since grown into one of the largest corporate holders globally. The company currently holds 40,177 BTC, ranking behind Twenty One Capital with 43,514 BTC and Strategy, which holds 845,256 BTC.
Gerovich said the importance of the acquisition is significant, pointing to Japan’s large pool of household capital, estimated at around 7.4 trillion dollars held in cash, deposits, and low yield financial products. He noted that as Japan transitions from a deflationary environment toward inflation, investors are increasingly searching for higher returns.
By integrating Siiibo’s securities license and digital platform, Metaplanet plans to offer Bitcoin related yield products directly to Japanese investors. These products will be backed by the company’s 40,177 BTC treasury, which it claims is the largest corporate Bitcoin reserve in Asia.
Market reaction
Metaplanet’s stock rose immediately after the announcement, gaining more than 3.6 percent. However, the broader trend remains tied to weakness in Bitcoin markets, with the stock still down about 32 percent over the past month and roughly 47.5 percent over the last six months.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
