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Metaplanet launches securities unit after deal
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Metaplanet launches securities unit after deal

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  • Metaplanet completed its purchase of Siiibo Securities and launched Metaplanet Securities.
  • The new business will develop Bitcoin-backed investment products.
  • Metaplanet is working with JPYC and Progmat on digital finance projects in Japan.

Metaplanet completed its purchase of Siiibo Securities and launched Metaplanet Securities.

The new company holds a financial services licence issued by Japan's Financial Services Agency.

Metaplanet said it will develop Bitcoin (CRYPTO:BTC)-backed bonds and digital credit products through Project Nova.

The company is working with JPYC and Progmat to study how Bitcoin can support digital bonds and other investment products.

Metaplanet said it has not approved any launch dates, product terms, or investment returns.

The acquisition gives Metaplanet access to a corporate bond platform that has supported more than 100 bond issues.

Metaplanet also said it held 43,000 Bitcoin on July 10 and plans to build more financial products around its Bitcoin holdings.

At the time of reporting, Bitcoin price was $62,480.11.

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