The approximately $13.1 million acquisition gives Metaplanet a regulated securities platform to develop Bitcoin-linked investment products.

Metaplanet CEO Simon Gerovich said the deal is expected to close in July, and the company plans to rename the business Metaplanet Securities.

Metaplanet is acquiring Siiibo Securities for $13M to build Bitcoin-linked yield products, marking its first M&A under 'Project Nova.'