Metaplanet, the third-largest publicly traded holder of bitcoin, announced on July 10 that it is studying tokenized credit products backed by bitcoin to enable 24/7 trading and automated interest payments in Japan.
The Tokyo-based bitcoin treasury company is leading a study group alongside its securities subsidiary Siiibo Securities, JPYC, a yen stablecoin issuer, and Progmat, a security token platform. According to Metaplanet, “The four companies will examine issues in product design, the need for proof-of-concept initiatives, and the possibility of future issuance.”
Metaplanet holds 43,000 BTC, valued at $2.47 billion. The company acquired Siiibo Securities in June 2026 for 2.1 billion yen. Siiibo Securities will be renamed Metaplanet Securities on July 13, 2026.
Study Focus and Market Context
Bitcoin-backed credit products use BTC as collateral for debt offerings. Japan’s traditional credit market favors large corporations, while mid-sized and growth companies face high costs and operational burdens around issuance and management. Digital credit could address these constraints by enabling 24/7 global trading, automated interest calculations, and transparent onchain payments.
The study group will examine product design, proof-of-concept requirements, and the feasibility of future issuance. Metaplanet stated that “At this time, nothing has been determined regarding issuance timing, terms, yield, product details, distribution methods, or the form of collaboration.”
Bitcoin-Backed Debt Trend
Bitcoin-backed credit has been driven primarily by public companies that hold bitcoin and use it to create dividend or interest-paying products. Metaplanet ranks third among publicly traded bitcoin holders, after Strategy and Twenty One Capital.
