METAPLANET BUYS SIIIBO SECURITIES FOR $13M — GRABS A TYPE I LICENSE AND LAUNCHES BITCOIN-LINKED YIELD PRODUCTS. THE VAULT BECOMES A MACHINE.

Metaplanet acquired Siiibo Securities for $13 million, securing a Type I financial-instruments license under Japanese regulation. That license opens the door to launch Bitcoin-linked structured products including MARS and Mercury — yield products built on the underlying Bitcoin treasury. The Capitalist read: Metaplanet started as a corporate Bitcoin vault. It's now becoming a Bitcoin yield machine. Same week Capital Group increased its stake in Metaplanet to 10.63% and then added $33.6M to Strive, Metaplanet is expanding beyond passive holding into products that generate fee income on the underlying stack. This is the second stage of the corporate-treasury model — accumulation, then monetization. mNAV compression this week (below key ratios) may be the market anticipating this exact evolution.