Japan's Bitcoin treasury firm Metaplanet to acquire Siiibo Securities

Metaplanet, a Japan-based Bitcoin treasury company, has signed an agreement to acquire 100% of Siiibo Securities, a licensed Tier 1 securities firm in Japan, ME News reported on June 12 (UTC+8). The deal is expected to close in July, after which Siiibo Securities will be renamed Metaplanet Securities. Metaplanet said the transaction is its first major M&A and a first tangible move under its long-term strategy, "Project Nova," which aims to build a Bitcoin-centric financial ecosystem in Japan. By combining Siiibo Securities' Tier 1 license with its online brokerage platform, Metaplanet plans to develop and distribute Bitcoin-linked income products for Japanese investors. The company added that it currently holds 40,177 BTC on its balance sheet. Once the acquisition is completed, Metaplanet Securities will use its securities qualifications to introduce new Bitcoin-linked investment opportunities in the Japanese market. Metaplanet also credited the Siiibo Securities team for its role in advancing Japan's online corporate bond market and said the merger is expected to accelerate the development of Bitcoin-related financial products in Japan. (Source: ODAILY)