Bitplanet Launches South Korea’s First Bitcoin Treasurer with $40 Million Buyout

Jakarta, Pintu News – Bitplanet, a newly rebranded financial company in South Korea, has announced ambitious plans to establish the country’s first institutional Bitcoin (BTC) treasury.

With an initial investment of $40 million for the purchase of Bitcoin (BTC), Bitplanet marks a major step in the adoption of cryptocurrencies by financial institutions in Asia.

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Paul Lee, Co-Founder and Managing Partner of Lobo Ventures, revealed that the formation of Bitplanet followed the acquisition of a 62% stake in CoStack-listed SI provider SGA.

Within two weeks, the company will be rebranded and the $40 million allocation to Bitcoin (BTC) will be deployed immediately. Lee emphasized that this efficient financial structure allows Bitplanet to pursue long-term growth without the risk of leverage, providing flexibility in treasury management in the future.

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From SGA to Bitplanet: Strategic Pivot

According to Coinpedia, SGA, which has been known for storing Bitcoin (BTC) in its corporate reserves, is now rebranding to emphasize a greater commitment.

This move, which was supported by Asia Strategy Partners through a third-party share placement, positions Bitplanet as the first global Bitcoin (BTC) institutional finance company in South Korea.

Asia Strategy Partners, which has experience in treasury management, is expected to shape Bitplanet’s future products and operational framework.

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Asia’s Growing Appetite for Bitcoin Treasurers

In July, Nasdaq-listed K Wave Media revealed plans for a $1 billion Bitcoin (BTC) treasury backed by a financing agreement with Anson Funds.

Meanwhile, Japan’s Metaplanet has been aggressively increasing their BTC holdings, recently announcing an $835 million share issue to finance further Bitcoin (BTC) purchases, further cementing Bitcoin’s (BTC) position as the best cryptocurrency to buy in 2025.

Conclusion

Amid preparations for wider crypto market regulation, South Korea’s Financial Services Commission (FSC) is drafting a government bill expected in October, to create a framework for won-backed stablecoins under the country’s Virtual Asset User Protection Act.

The draft will establish rules for issuance, collateral management, and internal controls, providing a clearer structure for digital asset providers operating in the country.

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Reference

• Coinspeaker. BitPlanet Launches $40M Bitcoin Treasury in South Korea. Accessed on August 29, 2025
• Featured Image: Coinpedia