Metaplanet Plans Digital Bank Move in BTC Phase 2 Strategy

Tokyo-listed investment firm Metaplanet is entering its next Bitcoin-centric strategy phase with plans to acquire a licensed digital bank.

Overview

In a recent interview with the Financial Times, CEO Simon Gerovich revealed the company is rapidly building its Bitcoin (BTC) reserves to use them as leverage for future expansion.

Gerovich said,

“We think of it as a Bitcoin gold rush.”

Gerovich added,

“We need to accumulate as much Bitcoin as we can… to get to a point where we’ve reached escape velocity and it just makes it very difficult for others to catch up.” 

Following its high-profile pivot to Bitcoin BTC as a treasury reserve asset in 2024, the company seeks to deepen its involvement in the digital finance ecosystem. Metaplanet said in a July 5 shareholder update that it is exploring acquiring or creating a fully licensed digital bank to support and expand its BTC strategy.

Phase 1 of the strategy focused on balance sheet transformation, with Metaplanet purchasing more than 140 BTC in less than six months. This move mirrored MicroStrategy’s BTC accumulation strategy and was designed to hedge against Japan’s macroeconomic challenges, including debt burdens and persistent yen weakness. The firm’s BTC holdings now form a core component of its corporate treasury, demonstrating a long-term belief in BTC as a store of value and a foundation for financial innovation.

Metaplanet’s shift to Phase 2 marks a broader ambition: to build or acquire financial infrastructure capable of supporting BTC-native services. This move would position the company to offer banking products tailored to the digital asset economy—such as BTC-backed loans, BTC-denominated accounts, or custody services—when institutional interest in BTC is growing globally.

Targeting Licence, Infrastructure, and Global Scale

The company actively evaluates digital banks in jurisdictions with favourable regulatory frameworks for BTC and digital assets. In its July 5 update, Metaplanet hinted at targeting markets that support both fiat and digital currency services, suggesting a hybrid model that bridges traditional finance with BTC-native services.

Acquiring the appropriate regulatory licences will be key to this effort. These include a full digital banking licence, a crypto asset service provider (CASP) registration, and a money transmission licence. Metaplanet noted that compliance will be at the heart of its expansion strategy and that legal due diligence is underway in several markets.

In addition to an acquisition, Metaplanet is considering creating a new digital bank from the ground up. This would involve significant investment in core banking technology, digital wallets, and BTC infrastructure, such as Lightning Network integrations and self-custody solutions. The company believes the demand for BTC-centric banking will grow as adoption rises among retail and institutional investors.

“Our aim is not just to accumulate Bitcoin but to integrate it into the core of next-generation financial services,”

Metaplanet said.

“This means building or acquiring infrastructure that enables Bitcoin to function as more than just an investment asset.”

Japan’s Bitcoin Pioneer with Global Aspirations

Metaplanet’s aggressive strategy has attracted attention both inside and outside Japan. Once a relatively low-profile holding company, its BTC accumulation transformed it into a proxy play for Japanese investors seeking exposure to the digital asset. The firm’s stock price has surged since the beginning of its BTC strategy, as retail investors and institutional players alike bet on its long-term crypto vision.

Analysts have compared Metaplanet and US-based MicroStrategy, which has become known for its BTC-heavy balance sheet and strategic alignment with crypto. However, Metaplanet appears set to go a step further by entering the banking sector—a move that could give it a unique edge among public companies with similar BTC strategies.

While no specific acquisition targets have been confirmed, the company’s expansion plan suggests it is prepared to move swiftly once regulatory and financial due diligence is complete. Metaplanet has also expressed interest in partnerships with other BTC-native firms, including fintech companies and custodians, to build out its proposed banking services.

If successful, Metaplanet could become one of the world’s first public companies to hold significant BTC reserves and operate a digital bank aligned with BTC’s core principles. With Japan’s tech-forward population and rising interest in decentralised finance, Metaplanet’s strategy could establish it as a leader in the intersection of digital assets and traditional banking.

As the Bitcoin ecosystem matures, Metaplanet’s Phase 2 ambitions highlight a growing trend: the convergence of institutional-grade infrastructure with Bitcoin’s decentralised ethos.