South Korea’s Bitplanet has announced plans to establish the nation’s first institutional-grade Bitcoin treasury. This comes after it secured $40 million in fresh capital to fund this BTC corporate strategy.
Bitplanet to Establish Korea’s First Institutional Bitcoin Treasury
Speaking at Bitcoin Asia 2025, Paul Lee, Co-Founder and Managing Partner of Lobo Ventures, revealed plans to establish a new Bitcoin treasury firm, Bitplanet. He shared that the firm will formally allocate $40 million to acquire BTC as part of its treasury plan.
He described the initiative as a move to build an institutional-grade custody and asset management platform. This would position the firm as South Korea’s first global institutional BTC financial company.
In his remarks, Lee emphasized the company’s streamlined financial structure. He also noted that the move was executed without incurring debt.
“Just two days ago, our investor consortium acquired 62% of SGA, a CoStack-listed SI provider, giving us full board control. Within two weeks, we will rebrand it as Bitplanet and immediately deploy over $40 million into our Bitcoin strategy,” Lee said.
This approach, he argued, gives the company the flexibility and strength to grow without the financial burden of leverage. The funds will be deployed on the first day of launch.
SGA’s rebranding as Bitplanet represents a more significant move towards the use of cryptocurrencies and blockchain adoption. The move comes through a third-party share placement, with Asia Strategy Partners emerging as the largest shareholder.
The company would build on SGA’s existing reputation for holding a significant portion of its corporate treasury in BTC. Experts note that 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.
South Korea’s BTC Treasury Push Gains Momentum
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. This includes a $500 million financing agreement with Anson Funds, with at least 80% of proceeds earmarked for BTC purchases.
Korean blockchain firms have traditionally leaned toward partnerships with XRP-linked products rather than other cryptocurrencies. For example, Korea’s BDACS recently introduced XRP custody services for large clients. However, this new move signals an expanding appetite for regulated digital asset solutions within the country’s financial ecosystem.
This new move 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.
These changes indicate that an increasing number of Asian businesses are adopting Bitcoin as a reserve currency for their treasuries. The move by Bitplanet also establishes South Korea as a potential center for the institutional adoption of Bitcoin.
Michael Adeleke
Michael Adeleke is a passionate crypto journalist known for breaking down complex blockchain concepts and market trends into clear, engaging narratives. He specializes in delivering timely news and sharp market analysis that keeps crypto enthusiasts informed and ahead of the curve. With an engineering background and a degree from the University of Ibadan, Michael brings analytical depth and precision to every piece he writes.
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