Metaplanet to Buy Siiibo Securities for $13.11M, Plans Bitcoin-Linked Yield Products for Japan

Metaplanet, a Tokyo-listed company that has built one of the world's largest publicly disclosed Bitcoin treasuries, will acquire Japanese broker-dealer Siiibo Securities for about $13.11 million, aiming to develop Bitcoin-linked yield products for domestic investors. Metaplanet said it will purchase 100% of Siiibo, a licensed securities firm known for arranging yen-denominated corporate bonds that typically yield 2% to 8%. Chief Executive Officer Simon Gerovich said the transaction is expected to close in July 2026, after which Siiibo will be renamed Metaplanet Securities Inc. The deal is the company's first major M&A move under "Project Nova." Metaplanet plans to use Siiibo's regulatory license and bond-market know-how to design and distribute financial products that offer Japanese investors exposure to Bitcoin-related yields without requiring direct ownership of the cryptocurrency. The company has modeled its strategy on MicroStrategy's corporate Bitcoin treasury approach and is now adding a financial-services arm intended to generate recurring revenue beyond Bitcoin's price swings. Metaplanet currently holds 40,177 BTC, acquired at an average cost basis of roughly $97,000 to $104,000 per coin. It has financed purchases largely through zero-coupon bond issuance, selling bonds at a discount with no periodic interest payments, where investor returns come from the gap between purchase price and face value at maturity. Metaplanet framed the $13.11 million acquisition price as relatively small compared with the cost and time required to obtain a securities license from scratch in Japan, where regulatory hurdles are high and approvals can take years. Japan was among the first major economies to tighten oversight of crypto exchanges after the 2014 Mt. Gox collapse, and the Financial Services Agency is regarded as one of the world's strictest regulators. With the Bank of Japan only recently starting to move away from ultra-loose policy after decades of near-zero rates, demand has grown among savers for products offering meaningful returns. Yen-denominated corporate bonds yielding 2% to 8% such as those Siiibo specializes in have gained traction as alternatives have been limited.