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BTC Metaplanet approves the establishment of a Hong Kong subsidiary, launching an initial capital of US$1 million
Metaplanet (TSE: 3350), a Japanese listed company, recently announced that its board of directors has approved the establishment of a new wholly-owned subsidiary, Metaplanet Asset Management Asia Limited. The subsidiary will be located in Hong Kong and is scheduled to be formally established in September 2026 with an initial capital of US$1 million.
The newly established Hong Kong subsidiary will be responsible for bitcoin-related investments and monitor positions during Asian trading hours. Simon Gerovich, Darren Winia and Kelvin Lee will serve as the first directors of the subsidiary. The move aims to cooperate with Metaplane's asset management company in Miami to conduct business and create global synergies.
Functions and Strategic Positioning of the Hong Kong Subsidiary
The main task of the Hong Kong office is to cover Asian trading hours, which is the closing period of the U.S. market. Its core responsibilities include asset trading, market conditions monitoring and risk management. Metaplanet said the move is in line with its larger strategic plan called "Project Nova."
"Project Nova" is Metaplanet's effort to build a financial services ecosystem around its Bitcoin holdings, which includes bitcoin-linked credit products and investment structures. The newly established subsidiary will invest in bitcoin, stocks, preferred securities, credit products and other liquid assets, and operate using client funds and Metaplan's own funds.
The Hong Kong subsidiary will work closely with the Miami office that opened in March this year. The Miami office serves as the central hub for the group's institutional investment and is responsible for formulating core strategies, while the Hong Kong office provides support and transaction coverage from Asia. Currently, Metaplanet holds 100% of the Hong Kong company. The announcement did not mention when the unit would start managing external client funds, nor did it name any specific funds or products linked to the office, nor did it mention matters related to obtaining a Hong Kong regulatory license.
Metaplanet's other recent expansion measures
Metaplanet has also made frequent moves in other markets this year:
- Acquisition of Japanese brokerages: In June this year, the company agreed to acquire Japanese brokerage firm Siiibo Securities for 2.1 billion yen. The transaction was completed in July and the brokerage company has changed its name to Metaplanet Securities and holds a licensed trading registration in Japan.
- Exploring Bitcoin credit products: Metaplanet is working with JPYC and Progmat to study bitcoin-backed credit products. No product has been launched yet, and all parties have indicated that the final terms have not yet been determined.
- Getting involved in U.S. capital markets: In August, Metaplanet announced a separate agreement with Nasdaq-listed Super League Enterprise. The company plans to change its name to Superplanet with the ticker symbol SUPA. According to the plan, Metaplan will inject 2,100 bitcoins and $2.5 million into Superplanet, and Metaplan will hold a 95.7% stake before calculating certain warrants. Gerovich described Superplanet as the company's access to U.S. capital markets, and the deal included a five-year lock-up period on Metaplanet's shares.
Bitcoin Positions and Financial Impact
As of recently, Metaplanet holds 43,000 bitcoins in its treasury, a total reached after purchasing 2,823 bitcoins in the second quarter of this year. In August, 5,014 bitcoins were transferred between Metaplanet's own escrow wallets. Gerovich confirmed that he had not sold any coins and that his position remained at 43,000 bitcoins.
Metaplanet said the new Hong Kong subsidiary would have little impact on its overall financial results for 2026. If the situation changes, the company will share more details.
