South Korea is stepping into the world of institutional Bitcoin investment. Bitplanet, a newly rebranded company, has announced plans to create the nation’s first corporate Bitcoin treasury, backed by $40 million in fresh capital. This move marks a significant milestone for cryptocurrency adoption among South Korea’s businesses.
Bitplanet’s Vision: Institutional-Grade Bitcoin Management
At the Bitcoin Asia 2025 conference, Paul Lee, Co-Founder and Managing Partner of Lobo Ventures, shared Bitplanet’s plans to build a fully institutional Bitcoin treasury. The company intends to allocate $40 million immediately to purchase BTC and establish a secure, professional-grade asset management platform.
Lee explained that this treasury initiative is designed to provide both transparency and security for corporate Bitcoin holdings. He also highlighted that the firm’s structure avoids debt, offering financial flexibility.
“Our investor group recently acquired 62% of SGA, a CoStack-listed IT service provider. Within two weeks, we will rebrand it as Bitplanet and deploy over $40 million into Bitcoin immediately,” Lee said.
This approach positions Bitplanet as South Korea’s first global-standard institutional Bitcoin financial company, setting a model for other corporations interested in cryptocurrency reserves.
From SGA to Bitplanet: A Strategic Rebranding
SGA, the company acquired and rebranded as Bitplanet, already held a notable portion of its treasury in Bitcoin. Asia Strategy Partners, now the largest shareholder, supports this strategy. Their experience in treasury management will help Bitplanet create reliable investment and operational frameworks for digital assets.
This rebranding not only signals a corporate shift toward cryptocurrencies but also reflects a broader trend of blockchain adoption among South Korea’s financial companies.
Corporate Bitcoin Adoption Gaining Momentum in South Korea
Bitplanet is not the only firm embracing Bitcoin. Earlier this year, Nasdaq-listed K Wave Media secured $1 billion to fund its Bitcoin treasury plan, with at least 80% of funds earmarked for BTC purchases.
Traditionally, South Korean blockchain companies focused on XRP-related projects. For instance, BDACS recently offered XRP custody services for large clients. Bitplanet’s initiative shows a growing interest in regulated, large-scale Bitcoin investment among institutional players.
Lessons from Japan and Asia’s Growing Bitcoin Treasuries
South Korea’s move mirrors trends in Japan, where companies like Metaplanet are expanding Bitcoin holdings aggressively. Metaplanet recently announced an $881 million stock issuance, with most proceeds dedicated to BTC purchases.
The rise of institutional Bitcoin treasuries in Asia indicates a shift in how companies view digital assets: no longer as speculative tools, but as strategic reserve assets. Bitplanet’s $40 million BTC plan is a clear signal that South Korea is joining this wave of institutional adoption.
Why Bitplanet’s Move Matters
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Introduces institutional-grade BTC custody and treasury management to South Korea.
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Shows growing confidence in Bitcoin as a corporate reserve asset.
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Highlights Asia Strategy Partners’ expertise in managing digital asset funds.
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Reflects the broader Asian trend toward regulated cryptocurrency adoption.
FAQs
1. What is Bitplanet’s main goal?
Bitplanet aims to create South Korea’s first corporate Bitcoin treasury, using $40 million to buy BTC and manage it through a professional institutional-grade platform.
2. Who is behind Bitplanet?
The company is backed by Asia Strategy Partners and led by Paul Lee of Lobo Ventures, focusing on secure, debt-free treasury management.
3. How does this affect Bitcoin adoption in South Korea?
It sets a model for other corporations to adopt Bitcoin as a reserve asset, signaling broader institutional acceptance.
4. Has South Korea seen similar corporate crypto activity before?
Yes, Nasdaq-listed K Wave Media secured $1 billion earlier this year to fund Bitcoin purchases, showing increasing corporate interest.
5. How does this compare to other Asian countries?
Similar trends are seen in Japan, where companies like Metaplanet raise hundreds of millions to invest in BTC, reflecting growing institutional adoption across Asia.