Metaplanet is moving from Bitcoin accumulation to productization: the Tokyo-listed firm announced it will buy Siiibo Securities for JPY 2.1 billion, gaining a licensed brokerage platform it plans to use to roll out Bitcoin-linked and yield-focused investment products in Japan.
Deal overview
- Purchase price: JPY 2.1 billion for all outstanding shares of Siiibo Securities.
- Structure: share transfer to make Siiibo a wholly owned subsidiary; Siiibo will be renamed Metaplanet Securities.
- Timeline: agreement announced June 12; deal expected to close July 13.
- Regulatory benefit: Siiibo holds a Type I Financial Instruments Business Operator license, enabling the structuring and distribution of securities in Japan.
Why it matters
Metaplanet frames the acquisition as the first major M&A under “Project Nova,” its long-term plan to build a Bitcoin-focused financial ecosystem. Instead of only growing its corporate Bitcoin treasury, the company intends to combine Siiibo’s distribution infrastructure and investor base with its Bitcoin holdings to create yield-oriented products—think BTC-linked bonds, digital securities, security tokens, and other Bitcoin-related instruments.
Company position and assets
- Metaplanet reported holding 40,177 BTC as of May 31, 2026, valuing that position at a net asset value of JPY 457.6 billion. That makes it the largest corporate Bitcoin holder in Japan and the third-largest corporate holder globally.
- Siiibo brings an online corporate bond platform and an investor network; it has supported over 40 companies and facilitated more than 100 bond issuances, mostly via private placement corporate bonds and venture debt.
Management comments
Simon Gerovich, Metaplanet’s CEO, described the acquisition as a major step toward Project Nova, saying the company views Bitcoin “not merely as a treasury reserve asset, but as the foundation of the next generation of financial ecosystems.” Management says the deal will let Metaplanet develop and distribute Bitcoin-related yield products directly to Japanese investors, tapping into Siiibo’s Type I registration and platform.
Funding and corporate plans
- Financing: the purchase will be funded mainly by cash and borrowings; Metaplanet may also use its Bitcoin-backed credit facilities, which have aggregate capacity up to $500 million.
- Governance and impact: Metaplanet plans to appoint two directors to Siiibo’s board after closing and does not expect the acquisition to materially affect consolidated results for the fiscal year ending Dec. 31, 2026.
Context on capital allocation
Metaplanet continues to prioritize “Bitcoin Yield” as its primary performance metric. The company reiterated that share buybacks are a potential tool if its market valuation falls below the value of its Bitcoin holdings—management previously signaled it would consider repurchasing common shares when mNAV (
