Metaplanet to acquire Siiibo Securities for $13M to develop bitcoin-linked yield products

Metaplanet, the Tokyo-listed company that has quietly amassed one of the largest public Bitcoin treasuries on the planet, is buying a Japanese securities firm for roughly $13.11 million. The target is Siiibo Securities, a licensed outfit specializing in yen-denominated corporate bonds, and the plan is to transform it into a launchpad for Bitcoin-linked yield products aimed at Japanese investors.

CEO Simon Gerovich said the deal is expected to close in July 2026, at which point Siiibo will be renamed Metaplanet Securities Inc.

What Metaplanet is actually buying

Siiibo Securities holds a Japanese securities license and has built expertise in corporate bonds that typically yield between 2% and 8% in yen terms. Metaplanet is acquiring 100% of the company.

The acquisition falls under what Metaplanet calls “Project Nova,” its first major M&A initiative. The goal is to use Siiibo’s licensed infrastructure and bond expertise to create and distribute financial products that give Japanese investors exposure to Bitcoin yields without requiring them to hold the asset directly.

Metaplanet has spent the past couple of years modeling itself after MicroStrategy, the US-based firm that pioneered the corporate Bitcoin treasury playbook. Metaplanet is now layering on a financial services business that could generate recurring revenue independent of Bitcoin’s price.

The Bitcoin treasury behind the strategy

Metaplanet currently holds 40,177 BTC, with holdings acquired at an average cost basis in the approximate range of $97,000 to $104,000 per coin.

To fund those purchases, Metaplanet has relied on zero-coupon bond issuances, a financing mechanism where the company sells bonds at a discount and pays no periodic interest. The bondholder’s return comes entirely from the difference between the purchase price and the face value at maturity.

The $13.11 million price tag is modest relative to what a securities license alone would cost to build from scratch in Japan, where regulatory barriers are steep and the licensing process can take years.

Why Japan, and why now

Japan was among the first major economies to regulate cryptocurrency exchanges following the Mt. Gox collapse in 2014, and its Financial Services Agency maintains one of the most rigorous oversight frameworks in the world.

The Bank of Japan only recently began moving away from its ultra-loose monetary policy, and decades of near-zero interest rates have left Japanese savers hungry for anything that offers meaningful returns. Yen-denominated bonds yielding 2% to 8%, the kind Siiibo specializes in, have found a receptive audience precisely because alternatives have been so scarce.

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