The third-largest corporate holder of bitcoin has made another move to strengthen its cryptocurrency presence by agreeing to acquire Siiibo Securities, a licensed Type I securities company and a \u201cpioneer of Japan\u2019s online corporate bond market.\u201d<\/p>\n
The closing is expected in July, and Siiibo will be officially renamed to Metaplanet Securities, said Simon Gerovich, the CEO of the bitcoin treasury company.<\/p>\n
The exec added that this marks his firm\u2019s first major acquisition and the first concrete step in Project Nova. The latter is Metaplanet\u2019s long-term strategy to build a \u201cBitcoin-centric financial ecosystem in Japan.\u201d<\/p>\n
Recall that Metaplanet followed Strategy\u2019s path by adding BTC into its balance sheet a couple of years ago and has gradually become<\/a> the third-largest corporate holder of the asset. Currently holding 40,177 units, Metaplanet trails only Twenty One Capital (43,514 BTC) and Michael Saylor\u2019s Strategy (a whopping 845,256 BTC<\/a>).<\/p>\n Gerovich said the significance of this acquisition is \u201chard to overstate,\u201d as Japanese households hold roughly $7.4 trillion in cash, deposits, and low-yield products. Japan is gradually shifting from deflation to inflation, and this substantial capital has \u201cbegan searching for yield.\u201d<\/p>\n \u201cBy bringing Siiibo\u2019s Type I registration and online securities platform into the group, we will develop and distribute Bitcoin-related yield products directly to Japanese investors, supported by the 40,177 BTC on our balance sheet, the largest corporate Bitcoin treasury in Asia,\u201d added<\/a> Gerovich.<\/p>\n Metaplanet\u2019s stock price reacted with an immediate uptick, surging by over 3.6%. However, the broader scale remains closely tied to bitcoin\u2019s decline as the shares are down by almost 32% monthly and by 47.5% over the past six months.<\/p>\n The post Metaplanet to Launch Bitcoin Yield Products by Acquiring Siiibo Securities<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The third-largest corporate holder of bitcoin has made another move to strengthen its cryptocurrency presence by agreeing to acquire Siiibo Securities, a licensed Type I securities company and a \u201cpioneer of Japan\u2019s online corporate bond market.\u201d The closing is expected in July, and Siiibo will be officially renamed to Metaplanet Securities, said Simon Gerovich, the […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-179332","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/179332"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=179332"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/179332\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=179332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=179332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=179332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}