Metaplanet to Buy Siiibo for $13M to Offer Bitcoin Yield

Metaplanet will acquire Siiibo Securities for $13 million and plans to use the securities firm to introduce products that deliver yields on bitcoin holdings, the companies said.

Under the agreement, Metaplanet intends to offer interest-bearing bitcoin products to its clients by routing bitcoin into strategies designed to generate returns for holders. The companies did not provide a launch date or full operational details.

Bitcoin yield products generate returns in different ways, including lending assets to institutional borrowers, entering into repo-style transactions, engaging in market-making, or deploying automated trading strategies. Providers vary in how they custody customer assets and select counterparties.

The acquisition pairs a crypto-focused platform with an established securities entity. Siiibo Securities will support the offerings from the securities and regulatory-compliance side of the business, the companies said.

The companies did not disclose which regulatory permissions will govern the products. Oversight and requirements for custody, disclosure and investor protection will depend on the jurisdictions where the products are marketed.

Some firms that offered crypto yield products have faced regulatory inquiries and legal challenges in multiple markets. When firms launch new yield offerings, they commonly provide details on custody arrangements, counterparty screening and risk-management practices as part of product disclosures.

Metaplanet characterized the purchase as an expansion into bitcoin yield services. Further information on product design, expected returns, target customers and regulatory approvals has not been released.