Japanese bitcoin treasury firm Metaplanet is acquiring Siiibo Securities for 2.1 billion yen ($13 million) as it seeks to develop and distribute bitcoin-linked yield products directly to investors in the country.
Metaplanet CEO Simon Gerovich said Friday on X that the company has agreed to fully acquire Siiibo Securities, a licensed Type I securities firm and a major player in Japan's online corporate bond market.
The deal is expected to close in July this year, and Metaplanet plans to rebrand Siiibo Securities as Metaplanet Securities. The acquisition forms part of Metaplanet's "Project Nova," a long-term strategy to build a bitcoin-centric financial ecosystem in Japan.
"This is Metaplanet's first major acquisition and the first concrete step in Project Nova, our long-term strategy to build a Bitcoin-centric financial ecosystem in Japan," said Gerovich.
According to Gerovich, integrating Siiibo's securities business would allow Metaplanet to expand beyond bitcoin accumulation and into investor-facing financial products.
