Metaplanet sets up subsidiary in Miami to develop Bitcoin derivatives strategy

Metaplanet (MTPLF) has established a subsidiary, Metaplanet Income Corp., in Miami, with an initial capital of $15 million to expand its Bitcoin derivatives and revenue-generating businesses. The new subsidiary, wholly owned by Metaplanet Holdings, will operate separately from its core funding division to manage risks. The company, which holds 20,136 bitcoins, valued at over $2.3 billion, recently raised $1.4 billion through an international issuance, aiming to accelerate Bitcoin acquisitions and rank among the largest corporate bitcoin holders. CEO Simon Gerovich noted that the participation of major funds demonstrated strong support from the institutions.