Metaplanet to Acquire Japanese Brokerage Siiibo Securities, Eyes July Close
Summary
- Metaplanet said it has signed an agreement to acquire a 100%% stake in Siiibo Securities, a Japanese brokerage.
- The company said the acquisition is part of Project Nova, its long-term strategy to build a Bitcoin-centered financial ecosystem.
- Metaplanet said it plans to develop and sell Bitcoin-related financial products backed by about 40,000 Bitcoin following the Siiibo Securities acquisition.
Forecast Trend Report by Period
Japan’s largest corporate Bitcoin holder, Metaplanet, is buying a domestic brokerage.
Metaplanet said on its official X account on June 12 that it had signed an agreement to acquire a 100% stake in Siiibo Securities. Chief Executive Officer Simon Gerovich said the deal is expected to close in July, after which the company will be renamed Metaplanet Securities.
The transaction will mark Metaplanet’s first brokerage acquisition. Gerovich described the purchase as part of Project Nova, the company’s long-term strategy to build a Bitcoin-centered financial ecosystem in Japan.
Metaplanet plans to use the acquisition of Siiibo Securities as a springboard to develop and sell Bitcoin-related financial products. The company said the offerings will be backed by its holdings of about 40,000 Bitcoin.
