- Bitplanet becomes South Korea’s first institutional Bitcoin treasury firm and will deploy $40 million into Bitcoin purchases immediately after launch.
- The company acquired 62% control of SGA through an investor consortium and will rebrand it as Bitplanet within two weeks.
- This move follows similar Bitcoin treasury strategies by Asian companies like K Wave Media and Japan’s Metaplanet.
South Korea enters the institutional Bitcoin market as Bitplanet announces plans to establish the nation’s first corporate Bitcoin treasury. The firm secured $40 million in capital to execute this strategy, marking a significant shift in Korea’s cryptocurrency adoption.
Paul Lee, co-founder and managing partner of Lobo Ventures, revealed the initiative at Bitcoin Asia 2025. The announcement positions South Korea among Asian countries embracing Bitcoin as a corporate reserve asset.
Strategic Acquisition Powers Bitcoin Treasury Launch
Bitplanet’s strategy centers on acquiring control of SGA, a CoStack-listed systems integration provider. An investor consortium purchased 62% of SGA, securing full board control for the Bitcoin treasury initiative.
The acquisition provides immediate operational infrastructure for the Bitcoin strategy. SGA will rebrand as Bitplanet within two weeks of the announcement. The company plans to deploy the $40 million into Bitcoin purchases on launch day.
Lee emphasized the debt-free structure of the transaction. This approach eliminates leverage risks while providing operational flexibility for future growth. Asia Strategy Partners emerged as the largest shareholder through a third-party share placement.
The rebranding builds on SGA’s reputation for holding Bitcoin in corporate reserves. Industry experts note that Asia Strategy Partners brings treasury management expertise to guide future product development and operational strategies.
Growing Regional Appetite for Bitcoin Corporate Strategies
Bitplanet joins a growing trend of Asian companies adopting Bitcoin treasury strategies. K Wave Media, a Nasdaq-listed Korean company, announced a $1 billion Bitcoin treasury plan in July 2025.
The K Wave Media initiative includes a $500 million financing agreement with Anson Funds. The company committed 80% of proceeds to Bitcoin acquisitions, demonstrating institutional confidence in the cryptocurrency.
Korean blockchain companies traditionally favored XRP partnerships over other cryptocurrencies. BDACS recently launched XRP custody services for institutional clients. However, the Bitplanet announcement signals an expanding appetite for diverse digital asset solutions.
The move follows Japan’s Metaplanet, which announced plans to raise $881 million through international stock issuance. Metaplanet designated most funds for Bitcoin purchases, continuing aggressive expansion of its holdings.
These developments indicate accelerating adoption of Bitcoin as a corporate reserve currency across Asia. The trend extends beyond individual companies to represent systematic institutional acceptance of cryptocurrency strategies.
Bitplanet’s launch establishes South Korea as a potential hub for institutional Bitcoin adoption. The debt-free structure and immediate deployment strategy may serve as a model for other companies considering similar treasury allocations.
The announcement reflects broader recognition of Bitcoin’s role in modern corporate finance. South Korean companies now have a domestic institutional platform for accessing professional-grade Bitcoin treasury services.
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