Metaplanet Explores Bitcoin-Backed Digital Credit Products in Japan

Metaplanet, the third largest publicly traded holder of bitcoin, is studying the launch of bitcoin backed digital credit products in partnership with yen stablecoin issuer JPYC and regulated security token platform Progmat. The initiative would move the company beyond simply accumulating bitcoin and toward using it as a foundational asset within Japan’s financial system.

Bitcoin as Collateral for New Credit Instruments

According to a statement released Friday, Metaplanet is examining whether bitcoin could serve as collateral for credit products offering daily interest accrual, a concept already used in the United States but not yet available in Japan. Digitizing these instruments would allow continuous trading and settlement around the clock, the company said.

Study Group Includes Newly Acquired Securities Firm

The research effort also involves Siiibo Securities, which Metaplanet acquired last month and will rename Metaplanet Securities later this month. The four companies plan to examine product design, potential pilot programs and the feasibility of future issuance, though Metaplanet stressed that no decisions have been made regarding timing, terms or structure.

Addressing Gaps in Japan’s Credit Market

Metaplanet noted that Japan’s traditional bond market largely favors large corporations, leaving small and mid-sized companies facing high costs and administrative burdens when raising debt. Digital credit products could lower these barriers by enabling automated interest calculations, transparent onchain payments and broader access to capital markets.

Divided Responsibilities Among Partners

Metaplanet and its securities arm will lead product design and investor relations, JPYC will explore stablecoin integration for payments and redemptions, and Progmat will provide the regulated infrastructure for tokenizing the products on blockchain. Metaplanet currently holds 43,000 BTC, valued at roughly $2.47 billion, ranking behind only Strategy and Twenty One Capital among corporate bitcoin holders.