PANews reported on September 11th that Bitplanet, South Korea's first institutional Bitcoin vault company, announced the completion of its $50 million acquisition of SGA Co., Ltd., formally completing a management transition and rebranding. The transaction involved a 62% stake in the company, with investment from a consortium including Sora Ventures, Parafi Capital, and KCGI, with additional investment from UTXO Management and Kingsway Capital totaling $10 million. Bitplanet aims to become one of the top ten corporate Bitcoin holders globally and to promote South Korea as a core hub for the international Bitcoin ecosystem.
