Metaplanet acquires Siiibo Securities to launch Bitcoin yield products in Japan

Metaplanet, Japan's largest public Bitcoin holder, is acquiring Siiibo Securities for $13.1M to launch BTC-linked yield products. The move is the first step in Project Nova, its Bitcoin-centric finance strategy.

• Metaplanet agreed to buy 100% of Siiibo Securities for 2.1 billion yen ($13.1M).
• The subsidiary will be renamed Metaplanet Securities and offer BTC-linked bonds and yield products.
• Metaplanet holds 40,177 BTC ($2.8B), making it the third-largest public BTC holder globally.
• The acquisition is the first step in Project Nova, a Bitcoin-centric financial ecosystem in Japan.
• It comes as Japan advances a bill to classify crypto as financial instruments, potentially enabling ETFs.

Coinporta summarises news for fast scanning. Full reporting belongs to the source.