Bitplanet, South Korea's first institutional Bitcoin vault company, has finalized the acquisition of SGA Co., Ltd. for $50 million, marking the completion of a management transition and brand overhaul. The transaction involved acquiring a 62% stake, with investment from Sora Ventures, Parafi Capital, and KCGI, alongside an additional $10 million investment from UTXO Management and Kingsway Capital. Bitplanet aims to become one of the top ten enterprise-level Bitcoin holders globally and to position South Korea as a central hub in the international Bitcoin ecosystem.
Bitplanet Completes $50 Million Acquisition of SGA Co., Ltd.
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