South Korea witnessed a landmark moment at the Bitcoin Asia 2025 event, when Bitplanet unveiled its plan to build the country’s first institutional-grade Bitcoin treasury. The company revealed that it had secured $40 million worth of BTC, funded entirely via equity financing, with no debt. They said that the acquired Bitcoin will be kept as a reserve asset, deploying the capital for the same immediately.
From SGA to Bitplanet: A crypto pivot
The announcement closely follows a strategic rebranding exercise of SGA, a technology firm, into Bitplanet after a recent acquisition. Through the M&A, Asia Strategy Partners gained a controlling 62% stake in the company. The transition was also an intentional pivot toward institutional Bitcoin asset management and custody services, as Paul Lee, Co-Founder and Managing Partner of Lobo Ventures, divulged at the event.
Equity-backed, debt-free strategy
Bitplanet stands out for its debt-free structure, which is unlike most digital asset treasuries (DATs). Its equity-backed treasury model enhances financial flexibility and resilience, while also freeing the company from leverage-related constraints.
There is a growing trend of DATs across the world, and Asian economies aren’t shying away. In July, K Wave Media, listed on Nasdaq, announced plans for a $1 billion Bitcoin reserve, backed by external financing. Similarly, Japan’s Metaplanet is aggressively expanding its BTC holdings via substantial equity issuance.
Asia’s institutional Bitcoin wave
Bitplanet’s foray into Bitcoin treasury management places South Korea squarely on the regional map of institutional crypto adoption. However, the country’s regulatory framework for digital assets remains in limbo. With a stepping stone towards institutional adoption, this could be a way for businesses in the region to view Bitcoin, not merely as a speculative asset, but as a strategic reserve.