Japanese investment firm Metaplanet has announced a joint research initiative to develop Bitcoin-backed digital credit products, collaborating with stablecoin issuer JPYC, tokenization platform Progmat, and its own securities arm. The study, part of Metaplanet’s Project Nova, aims to transform its corporate Bitcoin treasury into productive collateral for regulated financial instruments.
The partnership will examine product design, regulatory compliance, investor protection, and technical requirements for digital corporate bonds and other blockchain-based credit instruments. Under the proposed structure, security tokens would record investor rights, while JPYC’s yen-pegged stablecoin or similar instruments would handle interest payments, distributions, and redemptions. Progmat will provide infrastructure for security token issuance, ownership records, and transfer controls. The study also explores 24/7 trading and daily interest calculations.
Despite the ambitious scope, Metaplanet cautioned that no product has been approved yet—issuance timing, yields, terms, and distribution methods remain undecided. Any future launch would require internal approvals and discussions with relevant authorities.
The initiative builds on Metaplanet’s growing Bitcoin holdings, which now total 43,000 BTC after a purchase of 2,823 BTC in Q2. The company’s long-term goal is to accumulate 210,000 BTC by the end of 2027. The recent acquisition of Siiibo Securities (to be renamed Metaplanet Securities) provides a licensed corporate bond platform, potentially enabling the distribution of Bitcoin-linked bonds to retail and institutional investors in Japan.
This study aligns with a broader tokenized credit market expansion tracked by platforms like RWA.xyz. Metaplanet emphasizes that credit instruments are well-suited for digitization, as fixed terms for interest, repayment, and collateral can be efficiently managed on blockchain systems.
