Metaplanet, the Japanese investment firm known for its bitcoin treasury strategy, is acquiring Siiibo Securities in a deal valued at approximately $13.1 million. The acquisition gives Metaplanet a regulated securities platform to develop Bitcoin-linked investment products, according to CoinDesk.
The firm plans to rename the business Metaplanet Securities as it builds out Project Nova, its Bitcoin-centric finance strategy in Japan, CoinTelegraph reported. CEO Simon Gerovich said the deal is expected to close in July, per The Block.
Japan's Financial Services Agency (FSA) regulates securities firms, meaning Metaplanet Securities will operate under a licensed framework. The move positions the company to issue bitcoin-linked yield products within Japan's strict crypto regulatory environment.
Metaplanet is among the largest corporate bitcoin holders in Asia. The acquisition deepens its pivot from a traditional investment firm to a bitcoin-focused financial ecosystem, differentiating it from peers like MicroStrategy, which relies on convertible debt rather than regulated securities products.
Some analysts caution that demand for bitcoin-linked yield products in Japan remains unproven, and the $13.1 million price tag represents a significant bet on uncertain regulatory and market adoption timelines.