Bitplanet completes $50 million acquisition of SGA Co., Ltd.

According to Wu, Bitplanet, the first institutionalized Bitcoin vault company in South Korea, announced the completion of a $50 million acquisition of SGA Co., Ltd., involving a 62% stake. Investment consortiums include Sora Ventures, Parafi Capital and KCGI. New investors UTXO Management and Kingsway Capital invested a total of US$10 million. Bitplanet plans to rank among the top ten enterprise-level Bitcoin holders in the world and promote South Korea to become the core hub of the international Bitcoin ecosystem.