Metaplanet Securities, a branch of Japan’s prominent Bitcoin treasury company Metaplanet, has launched a collaborative study focused on developing digital corporate bonds backed by Bitcoin. The project involves using Bitcoin as collateral and a credit enhancement tool alongside the JPY Coin (JPYC), a Japanese yen-pegged stablecoin, to handle settlement and payments on the blockchain. Security tokens will manage the rights of bondholders, providing continuous access and daily interest accrual.
This joint effort includes stablecoin issuer JPYC and tokenization platform Progmatare. It seeks to evaluate the technological and regulatory feasibility of integrating Bitcoin into credit markets in Japan, offering a marketplace where digital credit assets can be issued with 24/7 settlement capabilities. The study serves as a probe rather than a product launch, with no digital bonds currently issued. It reflects Metaplanet’s ambition to move beyond being a Bitcoin holder and treat Bitcoin as a productive asset within balance sheets.
Under the umbrella of Project Nova, Metaplanet intends to build a comprehensive Bitcoin financial services ecosystem spanning retail and institutional investors. This initiative envisions bridging traditional securities markets with emerging digital asset infrastructure to unlock new yield opportunities and capital market access. Metaplanet recently expanded its strategic reach by acquiring and rebranding Siiibo Securities as Metaplanet Securities, a move designed to support Project Nova’s development.
The study also draws lessons from global trends where digital credit instruments have become key tools for Bitcoin acquisition financing. As the world’s third-largest corporate Bitcoin owner, Metaplanet holds over 43,000 Bitcoin, emphasizing the importance of innovating credit products to leverage cryptocurrency holdings efficiently. Through this research, Metaplanet seeks to address product design challenges and explore proof-of-concept models for Bitcoin-backed digital bonds, without committing to issuance at this stage.
Metaplanet’s efforts signal growing interest in Japan’s crypto and fintech ecosystem toward blending blockchain technology with established financial instruments. By combining stablecoins, Bitcoin collateralization, and security tokens, the company aims to create a transparent, efficient credit market that operates continuously, an advancement from conventional bond settlements constrained by traditional banking hours and processes.