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Metaplanet studies bitcoin-backed tokenized credit in Japan

The planned products would tokenize BTC as collateral and use onchain infrastructure for 24/7 trading, daily interest accrual, and automated payments, with no launch decided yet.

Reported · Written up by our desk · Market Structure

Metaplanet is studying bitcoin-backed digital credit products in Japan in partnership with JPYC and Progmat, aiming to create credit markets that can trade and settle around the clock. CoinDesk reports the effort would tokenize BTC as collateral and target an expansion of Japan’s access to credit for mid-sized and growth companies using onchain infrastructure.

According to CoinDesk, Metaplanet says the company is looking at whether bitcoin can serve as collateral for credit instruments that accrue interest daily, a market it notes exists in the U.S. but not in Japan. The initiative also describes transparent redemptions and automated interest payments as part of the envisioned structure.

CoinDesk adds that the project aligns with Metaplanet’s strategy to use its bitcoin treasury as a foundational asset, and the company frames the move as going beyond holding BTC. The study group includes Siiibo Securities, which Metaplanet bought for 2.1 billion yen ($13 billion) last month, and Siiibo is expected to be renamed Metaplanet Securities on July 13.

Cointelegraph reports that Metaplanet said it is still only studying the concept, and that no product has been launched yet. The companies plan to examine product design, whether proof-of-concept initiatives are needed, and the possibility of future issuance.

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