Metaplanet (TYO:3350) will establish a wholly owned U.S. subsidiary, Metaplanet Asset Management, to develop asset management and institutional investment activities, according to a Thursday filing on the Tokyo Stock Exchange.
The unit, to be based in Miami, will focus on developing investment products linked to Bitcoin, including fixed-income instruments, equity and credit strategies tied to companies holding the cryptocurrency, and derivatives-based income strategies.
The subsidiary will have up to $1 million in capital and be fully owned by Metaplanet. It is scheduled to be established in March.
Metaplanet said the move aims to build an asset management platform connecting Asian and Western capital markets as demand grows for investment products tied to digital assets.
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