Following an official announcement, Bitplanet, identified as South Korea’s first institutional Bitcoin treasury company, disclosed the completion of a $50 million acquisition of SGA Co., Ltd. The transaction transferred a 62% equity stake and included an investor consortium featuring Sora Ventures, Parafi Capital and KCGI, with an additional $10 million commitment from UTXO Management and Kingsway Capital.
The firm confirmed that the management handover and brand reshaping are finalized and outlined clear strategic objectives to establish itself among the top-ten global enterprise Bitcoin holders while supporting the evolution of a robust institutional Bitcoin ecosystem in South Korea.