Metaplanet considers bitcoin-backed digital credit products for Japan’s financial market
Metaplanet, one of the world’s largest publicly traded bitcoin holders, is exploring entry into the tokenized credit sector as it seeks to expand its bitcoin strategy beyond accumulation and position BTC as a key asset within the broader financial system.
The Tokyo-based firm said it is evaluating whether bitcoin could be used as collateral for digital credit instruments that generate interest on a daily basis. Metaplanet noted that similar bitcoin-backed credit products are already available in the U.S., but such offerings remain largely absent in Japan. The company said tokenization could enable these products to be traded and settled continuously, operating 24 hours a day, 365 days a year.
Bitcoin-backed credit is a developing financial concept that uses BTC reserves as collateral to create debt products that can generate returns. The market has primarily been driven by public companies holding large bitcoin treasuries, allowing them to turn their BTC holdings into income-producing financial instruments.
The research initiative will include several industry partners, including Siiibo Securities, which Metaplanet acquired last month for 2.1 billion yen ($13 billion), as well as yen stablecoin provider JPYC and regulated security token infrastructure company Progmat. Siiibo Securities is expected to operate under the name Metaplanet Securities starting July 13.
Metaplanet said the group will examine potential product designs, conduct feasibility studies, and assess whether future issuance could be possible. However, the company clarified that no final decisions have been made regarding launch dates, product structures, interest rates, distribution channels, or partnership arrangements.
According to Metaplanet, Japan’s existing credit market is largely designed for major corporations that can issue public bonds, while smaller and rapidly expanding companies often face costly and complex processes involving fundraising, investor management, interest payments, and repayments.
The company believes digital credit could help broaden access to capital by combining traditional finance with blockchain technology. A tokenized approach could provide features such as 24/7 global trading, automated interest calculations, transparent onchain payment records, and digital management of investor ownership rights.
How Each Partner Could Contribute
The participating companies are expected to bring different areas of expertise to the potential project.
- Metaplanet and its securities business would focus on developing bitcoin-linked credit products, managing investor distribution, handling customer relationships, and overseeing ongoing operations.
- JPYC would explore the use of its yen-denominated stablecoin to facilitate payments, settlements, and redemption processes.
- Progmat would provide the regulated tokenization infrastructure needed to issue digital securities, track ownership, manage transfers, and connect blockchain-based assets with stablecoin payment systems.
Metaplanet currently owns around 43,000 BTC, worth approximately $2.47 billion. Among publicly listed companies, only Strategy and Twenty One Capital hold larger bitcoin reserves.
