Metaplanet Acquires Siiibo Securities for $13.1 Million to Build Bitcoin Financial Ecosystem

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According to CoinDesk, Metaplanet, a Tokyo-listed bitcoin treasury company, acquired Siiibo Securities for 2.1 billion yen ($13.1 million) on June 12. After closing, Siiibo will become a wholly owned subsidiary and be renamed Metaplanet Securities.

The acquisition marks the first step under Metaplanet's Project Nova strategy to build a bitcoin financial ecosystem. Metaplanet plans to leverage Siiibo's Type I Financial Instruments Business Operator license, customer base, and expertise to develop bitcoin-linked financial products. Metaplanet held 40,177 BTC worth approximately $2.6 billion as of May 31.

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