Metaplanet Securities, the issuer of the JPYC stablecoin, along with infrastructure company Progmat, will conduct a joint study on digital credit products backed by Bitcoin. The project aims to use the asset as collateral or as a means to enhance the reliability of digital corporate bonds and other debt instruments.
Transactions and payments may be conducted in the yen-pegged JPYC stablecoin, with holders' rights accounted for through security tokens. Metaplanet emphasized that this is currently only a study, and the issuance of a specific product has not been approved.