According to TechFlow, on June 25, Metaplanet, a Japanese listed company, published a post on the X platform, announcing that the board of directors has decided to establish a wholly-owned subsidiary, Metaplanet Capital Limited, in the British Virgin Islands. The subsidiary will become part of the Metaplanet Group and will mainly engage in Bitcoin holding and related businesses.
Metaplanet has made Bitcoin a pillar of its financial strategy, having purchased approximately 1.45 billion yen of Bitcoin so far and plans to purchase another 1 billion yen. By establishing a subsidiary, Metaplanet hopes to take advantage of a favorable regulatory environment, optimize its financial strategy, and enhance its global market expansion capabilities. The new subsidiary is expected to be established in July 2024 with an initial capital of $10,000.
