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South Korea approved a share issuance giving Metaplanet CEO and partners control of SGA Co.
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The deal mirrors Metaplanet’s Bitcoin treasury strategy in Japan and Thailand
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Consortium includes KCGI and Sora Ventures, aiming to normalize BTC on Asian corporate balance sheets
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$25M raised to fund operations, with new shares listing in September
Coordinated Expansion into Asia
Metaplanet CEO Simon Gerovich is spearheading a quiet Bitcoin campaign in Asia, now with regulatory approval to help take control of South Korea’s SGA Co. through a strategic share issuance. The move is part of a broader plan by a Sora Ventures-led group to introduce BTC as a corporate treasury asset across the region.
The approved share issuance, involving 58 million new shares, brings in Asia Strategy Partners, backed by Gerovich and Sora Ventures, as the largest shareholder of SGA. While listed as an individual investor, Gerovich is playing a central role in the coordinated push.
A Regional Playbook for Bitcoin Adoption
The consortium is using a playbook similar to Metaplanet’s transition in Japan — acquiring listed companies and converting them into Bitcoin-holding firms. Earlier this month, the same group targeted a Thai-listed company under similar terms.
Sora Ventures’ Jason Fang called the strategy a “balance sheet upgrade,” and emphasized the role of regulated firms in normalizing Bitcoin in Asia. The ₩34.5 billion (~$25M) raised will support operations and business growth, with new shares to be listed in September.
