What to know:
- Metaplanet studies Bitcoin-backed credit products with JPYC, Progmat, and its securities arm.
- Project Nova will test BTC collateral, stablecoin settlement, and tokenized investor rights.
- Metaplanet holds 43,000 BTC and is expanding beyond a treasury-only business model.
Metaplanet has begun a joint study on Bitcoin-backed digital credit products in Japan. The project includes JPYC, Progmat, and Metaplanet Securities. It will test how Bitcoin may support credit instruments, stablecoin settlement, and blockchain-based investor rights within Japanese capital markets.
As per the announcement, the study will focus on Bitcoin being used as collateral and a credit enhancer in accordance with the proposed structure.
The JPYC yen stablecoin will be utilized for making payments and settlement processes. Security tokens will provide documentation of investor rights on the proposed product.
Also Read: Metaplanet Buys 2,823 BTC, Raising Bitcoin Holdings to 43,000
What Metaplanet Will Test in Its Bitcoin Credit Study
The partners will assess digital corporate bonds and other credit products that will be issued through blockchain technology.
The review will analyze round-the-clock access, blockchain-based settlements, and daily interest earning for the holders. No product has been created yet, and no issuance decision has been taken yet.
Metaplanet said that this research will help the company in designing an efficient and transparent credit market for the issuer and the investor. The review will address issues related to product design, proof of concept development, and potential future issuance.
The program belongs to Project Nova, which was introduced in the beginning of the year. The program focuses on expanding Metaplanet into a Bitcoin-based financial service company in Japan. Bitcoin will be considered productive collateral on a corporate balance sheet.
How Metaplanet Plans to Expand Yield Products in Japan
The company will be able to create yield products and increase access to capital markets through Project Nova. It hopes to serve the needs of the retail and institutional investor community in Japan and link securities markets with digital asset infrastructure.
This strategy will be built based on an existing model from Strategy, the biggest Bitcoin holder. This company has managed to raise capital using digital credit instruments such as STRC preferred stock. The funds have helped it to buy more Bitcoins, according to its treasury strategy.
The company owns 43,000 Bitcoins purchased for around $4.1 billion at the time of writing. It has purchased 2,823 Bitcoin in Q2 2026. The average cost of purchasing coin is approximately $78,850.
Why Metaplanet Is Expanding Beyond Bitcoin Treasury
The company also developed the infrastructure for Project Nova. In June, it said that it would like to acquire Siiibo Securities Company and name it Metaplanet securities . The acquisition becomes a part of the general strategy related to the development of the financial services initiative.
In addition, the company established Metaplanet Ventures in March. It was founded to help Japan’s Bitcoin ecosystem to develop. It is created to help companies involved in Bitcoin development.
Together, the new units support the company’s shift beyond a treasury-only model within Japan’s Bitcoin financial services ecosystem.
Investor demand for blockchain-based credit products is already growing. Data from RWA.xyz shows that asset-backed credit is the third-largest segment in the $33 billion tokenized real-world asset market, valued at $2.3 billion. Tokenized corporate credit ranks fifth, with $1.76 billion issued on blockchain networks.
Also Read: Bitwise Crypto Market Records Longest Losing Streak Since 2022
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