South Korea's First Institutional Bitcoin Treasury Launched by Bitplanet

South Korean company Bitplanet plans to establish the country's first institutional Bitcoin treasury, securing $40 million in fresh capital for Bitcoin purchases. The company will be rebranded as Bitplanet and will activate its resources immediately. This initiative marks a growing institutional interest in cryptocurrencies in South Korea, with other companies like K Wave Media and Metaplanet also planning to expand their Bitcoin acquisitions. Experts suggest that Bitcoin is becoming a reserve currency for Asian companies in their corporate treasuries, potentially positioning South Korea as a hub for institutional Bitcoin adoption.

South Korea’s Bitplanet has announced plans to establish the nation’s first institutional-grade Bitcoin treasury, securing $40 million in fresh capital for Bitcoin purchases. The company will be rebranded as Bitplanet and will activate its resources immediately. This initiative marks a growing institutional interest in cryptocurrencies in South Korea, with other companies like K Wave Media and Metaplanet also planning to expand their Bitcoin acquisitions. Experts suggest that Bitcoin is becoming a reserve currency for Asian companies in their corporate treasuries, potentially positioning South Korea as a hub for institutional Bitcoin adoption.

Bitplanet’s move comes after it secured $40 million in fresh capital to fund this BTC corporate strategy. The company will formally allocate this capital to acquire BTC as part of its treasury plan. The initiative aims to build an institutional-grade custody and asset management platform, positioning Bitplanet as South Korea’s first global institutional BTC financial company [1].

Paul Lee, Co-Founder and Managing Partner of Lobo Ventures, revealed these plans at Bitcoin Asia 2025. Lee emphasized the company’s streamlined financial structure and noted that the move was executed without incurring debt. The funds will be deployed on the first day of launch [1].

The rebranding of SGA as Bitplanet represents a significant shift towards the use of cryptocurrencies and blockchain adoption. This move comes through a third-party share placement, with Asia Strategy Partners emerging as the largest shareholder. Asia Strategy Partners’ investment philosophy provides a transparent roadmap for the firm’s future direction. Their expertise in treasury management could shape the company’s upcoming products and operational strategies [2].

This new treasury firm announcement follows a growing corporate interest in digital assets across South Korea. Earlier in July, Nasdaq-listed K Wave Media disclosed that it had secured $1 billion to fuel its own Bitcoin treasury plan, with at least 80% of proceeds earmarked for BTC purchases [1]. Korean blockchain firms have traditionally leaned toward partnerships with XRP-linked products rather than other cryptocurrencies. However, this new move signals an expanding appetite for regulated digital asset solutions within the country’s financial ecosystem.

The move by Bitplanet also establishes South Korea as a potential center for the institutional adoption of Bitcoin. It follows the Japanese firm Metaplanet, which has been aggressively expanding its holdings. Just yesterday, Metaplanet announced plans to raise $881 million through an international stock issuance, with most of the funds dedicated to purchasing BTC [1].

These changes indicate that an increasing number of Asian businesses are adopting Bitcoin as a reserve currency for their treasuries. The move by Bitplanet could position South Korea as a leader in this trend, attracting more institutional investors and fostering innovation in the crypto space.

References:
[1] https://coingape.com/bitplanet-launches-koreas-first-bitcoin-treasury-plans-40m-btc-purchase/
[2] https://bitcoinworld.co.in/sga-bitplanet-rebrand/