Markets Metaplanet Investigates Bitcoin-Backed Digital Credit for Japan

Metaplanet, in partnership with JPYC and Progmat, is examining the potential for bitcoin-backed tokenized credit products, aiming to establish efficient 24/7 credit markets in Japan.

By Omkar Godbole| Edited by Sheldon Reback Jul 10, 2026, 9:08 a.m. 2 min read Make preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on

Metaplanet and its collaborators are working on establishing 24/7 bitcoin-based credit markets in Japan. (Shutterstock)
  • Metaplanet, along with yen stablecoin provider JPYC and security token platform Progmat, is collaborating to investigate bitcoin-backed digital credit products that utilize BTC as collateral.
  • This initiative seeks to enhance access to Japan's credit market for mid-sized and growth companies through onchain infrastructure, enabling around-the-clock trading, automated interest payments, and clear redemption processes.
  • The project complements Metaplanet’s larger objective of leveraging its 43,000 BTC treasury for credit enhancement, value preservation, and as collateral within regulated digital markets.

As the third-largest publicly traded bitcoin holder, with BTC$64,345.49, Metaplanet is venturing into the tokenized credit arena, moving beyond merely accumulating bitcoin to establish it as a key asset in the financial landscape.

The company, based in Tokyo, is investigating the feasibility of using bitcoin as collateral for credit products that would accrue interest daily, a concept it notes is prevalent in the U.S. but absent in Japan. This digitization would facilitate trading and settlement of these instruments on a 24/7/365 basis, as detailed in a statement released on Friday.

Bitcoin-backed credit is an emerging concept that uses BTC as the primary collateral for debt offerings, primarily driven by public companies that hold bitcoin and utilize it to develop products that yield dividends or interest, thus transforming dormant bitcoin reserves into revenue-generating assets.

The study group will also include Siiibo Securities, which Metaplanet acquired for 2.1 billion yen ($13 billion) last month and will be renamed Metaplanet Securities on July 13.

Metaplanet remarked, "The four companies will assess product design challenges, the necessity for proof-of-concept projects, and the potential for future issuances." They emphasized that no decisions have been made yet regarding issuance timing, terms, yields, product specifics, distribution methods, or collaborative structures.

Japan's conventional credit market typically favors large corporations with public bond offerings, leaving mid-sized and growth companies facing significant costs and operational hurdles related to issuance, investor management, interest payments, and redemptions, according to Metaplanet.

Digital credit could democratize access to the debt market for these smaller firms, merging traditional capital markets with onchain technology to enable continuous global trading and settlement, holder-level rights management, automated interest calculations, and transparent onchain payments and redemptions.

Roles of the Participants

Each organization involved will contribute its unique strengths. Metaplanet and its securities division will be responsible for designing and developing the new products that integrate bitcoin with credit offerings. They will also manage investor relations and customer communications.

JPYC will investigate the integration of its stablecoin into the process, ensuring seamless payment and redemption capabilities.

Progmat will offer a secure regulatory framework for converting these products into digital tokens on the blockchain, managing ownership tracking, transfers, and linking everything to the stablecoin payment system.

Metaplanet’s holdings include 43,000 BTC valued at $2.47 billion, with only Strategy (MSTR) and Twenty One Capital holding more.

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