Tokyo-listed Metaplanet has launched a new Miami-based subsidiary, Metaplanet Income Corp., to fuel its bitcoin derivatives strategy.
In addition to cementing its position as a global bitcoin powerhouse, this would also help Metaplanet generate income.
It also helps the firm tap into the vibrant U.S. financial ecosystem.
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Metaplanet’s New Engine for Growth
Metaplanet is already a leader in the corporate bitcoin space.
With the wholly owned subsidiary, it is doubling down on its innovative approach.
The $15 million capital injection from Metaplanet Holdings, Inc., Miami unit will focus exclusively on scaling “bitcoin income generation” through derivatives and related activities.
It will also operate independently from the company’s core treasury holdings, to balance risk while driving revenue.
Metaplanet CEO Simon Gerovich declares Miami Unit as the “engine of growth”.
Why Miami?
Miami’s booming crypto scene and business-friendly environment make it a natural fit for Metaplanet’s aggressive growth strategy.
It is likely the company will leverage Miami’s status as a global crypto hub to attract institutional investors and expand Metaplanet’s footprint.
The new subsidiary will be led by Gerovich himself alongside directors Dylan LeClair and Darren Winia.
This move follows a $1.4 billion international equity offering, surpassing the initial $880 million target.
According to Gerovich this is just “the next phase” for Metaplanet.
Furthermore, he added the new venture possibly positions the firm as a rival to Michael Saylor’s Strategy.
Michael Saylor’s Strategy is the world’s largest corporate bitcoin holder holding 638,985 BTC at the time of this article.
