The Bitcoin treasury firm said Siiibo’s securities license and corporate bond platform will help it develop BTC-linked yield products for Japanese investors.

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.'