TechFlow news — On June 25, Japanese publicly listed company Metaplanet announced on X that its board of directors has resolved 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 primarily engage in holding Bitcoin and related businesses.
Metaplanet has positioned Bitcoin as a cornerstone of its financial strategy, having purchased approximately 1.45 billion yen worth of Bitcoin to date, with plans to acquire an additional 1 billion yen. By establishing this subsidiary, Metaplanet aims to leverage 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 initial capital of $10,000.
