South Korean regulators have approved SGA Co.’s acquisition by Metaplanet-linked investors, enabling a $25 million capital injection to advance Bitcoin treasury initiatives across Asia.
The Korean Financial Services Commission and Korea Exchange authorized SGA Co. to issue over 58 million new shares to a consortium led by Sora Ventures and KCGI. Asia Strategy Partners LLC, backed by Sora Ventures and Metaplanet CEO Simon Gerovich, will become SGA Co.’s largest shareholder through a ₩34.5 billion (~$25M) investment.
This funding is designated for operational expansion and new business development, reflecting South Korea’s evolving regulatory approach toward Bitcoin adoption. The transaction exemplifies a strategically tailored market entry that balances innovation with governance, signaling broader shifts in Asia’s cryptocurrency landscape.
A mandatory one-year lock-up period on newly issued shares will ensure stability during the transition, allowing SGA’s management to maintain operational continuity while implementing Bitcoin-focused treasury strategies.