Metaplanet Targets Japan’s Digital Finance Market With Bitcoin-Backed Credit Initiative

Metaplanet considers bitcoin-backed digital credit as it seeks to expand Japan’s tokenized finance market

Metaplanet, one of the largest publicly traded bitcoin holders worldwide, is exploring the possibility of launching bitcoin-backed digital credit products in Japan. The move would mark an expansion of the company’s strategy beyond accumulating BTC and toward using bitcoin as a foundation for new financial applications.

The Tokyo-based firm said it is studying whether bitcoin can serve as collateral for tokenized credit instruments that generate daily interest. According to Metaplanet, similar products are already developing in the U.S., but Japan currently lacks a comparable market. By leveraging blockchain technology, these digital instruments could support 24/7 trading and settlement.

Bitcoin-backed credit is an emerging financial model that uses BTC holdings as collateral to create income-generating debt products. The sector has mainly been driven by companies with large bitcoin reserves, allowing them to transform their holdings into yield-producing assets rather than keeping them inactive.

Metaplanet’s research initiative will involve Siiibo Securities, a company it acquired last month for 2.1 billion yen ($13 billion), along with JPYC, a yen stablecoin issuer, and Progmat, a regulated security token platform. Siiibo Securities will transition to the name Metaplanet Securities on July 13.

The company said the group will examine potential product designs, explore proof-of-concept opportunities, and assess the possibility of future issuance. However, Metaplanet clarified that no specific decisions have been made regarding launch dates, investment terms, expected yields, distribution methods, or the final partnership structure.

Metaplanet noted that Japan’s traditional credit system is largely focused on large corporations with access to public bond markets. Smaller and growing companies often face significant challenges, including high issuance costs, complex investor management, and administrative burdens related to interest payments and repayments.

The company believes digital credit solutions could help improve access to financing by connecting traditional capital markets with blockchain-based infrastructure. Tokenized products could enable around-the-clock global trading, automated interest calculations, transparent onchain settlements, and digital management of ownership rights.

Strategic Roles in the Initiative

Each participant will contribute specialized capabilities to the project:

• Metaplanet and its securities division will focus on creating bitcoin-backed credit products, managing investor distribution, handling customer relationships, and overseeing ongoing operations.
• JPYC will explore the use of its yen-denominated stablecoin for payment settlements and redemption processes.
• Progmat will provide the regulated blockchain infrastructure needed for token issuance, ownership tracking, asset transfers, and integration with stablecoin-based settlement systems.

Metaplanet currently owns approximately 43,000 BTC, worth about $2.47 billion, making it the third-largest publicly traded bitcoin holder behind Strategy and Twenty One Capital.