According to Metaplanet, the company has officially launched Metaplanet Securities after completing its acquisition of Siiibo Securities for JPY 2.1 billion. The new subsidiary operates under a Type I Financial Instruments Business Operator license regulated by Japan's Financial Services Agency, providing the legal framework to structure and distribute securities products linked to digital assets. As reported by Metaplanet, the business will focus on financial engineering and regulated investment products designed for Japan's capital markets, moving beyond holding Bitcoin as a treasury asset to generating income through financial products. The launch represents the next step in Project Nova, Metaplanet's comprehensive plan to build Bitcoin-focused financial services in Japan.
The research project introduces an open marketplace model where mid-sized and high-growth firms can issue their own tokenized digital credit to investors, expanding beyond the yield-paying STRC model pioneered by Strategy. According to the latest reports, this framework allows other companies to leverage Metaplanet's Bitcoin holdings as collateral while maintaining their own branding and issuance control. Metaplanet CEO Simon Gerovich explained that "This is Project NOVA at work: using Bitcoin's strength as an asset to open Japan's credit markets to companies the current system prices out." The proposed structure would use security tokens to record investor rights and JPYC or similar yen-based instruments could handle interest payments, distributions and redemptions. The study will specifically focus on product structures that comply with Japanese financial regulations, as well as issuance methods and trading infrastructure.
The research project forms part of Project Nova, Metaplanet's plan to build a Bitcoin-focused financial services business in Japan. According to the company, the project treats Bitcoin as "productive collateral on the balance sheet" rather than only a reserve asset. Under the plan, Bitcoin could back credit instruments while stablecoins and security tokens connect traditional securities infrastructure with blockchain settlement. Metaplanet said it wants to offer yield products and wider capital-market access to retail and institutional investors. The new Metaplanet Securities subsidiary will develop a digital credit ecosystem with yen stablecoin issuer JPYC and tokenization platform Progmat by using its Bitcoin treasury as credit-enhancement collateral for digital corporate bonds and structured credit products.
The study follows Metaplanet's expansion of its corporate Bitcoin holdings, with the company buying 2,823 BTC during the second quarter, raising its holdings to 43,000 BTC. According to reports, the company acquired the latest batch at an average price of about JPY 12.7 million per Bitcoin, with its total average purchase price standing near JPY 15.3 million per coin. Metaplanet has set a long-term goal of holding 210,000 BTC by the end of 2027, though the new study does not confirm that the company will pledge its existing holdings to any specific credit product. The company's substantial Bitcoin holdings provide a foundation for exploring blockchain-based financial products.
The proposed research project comes as demand for blockchain-based financial assets continues to grow, with RWA.xyz tracking tokenized government debt, private credit, corporate credit, commodities and other real-world assets across public and private networks. As reported by Metaplanet, credit is suited to digitization because interest, repayment and collateral terms are fixed when an instrument is issued, with blockchain systems managing ownership records, payments and redemptions. However, Metaplanet warned that "nothing has been determined" regarding issuance timing, yields, terms or distribution, with any future product requiring internal approvals, technical checks and talks with relevant authorities. According to AMBCrypto, Metaplanet's stock jumped 4% following the update, though it remains unclear whether Japan's regulators and market will embrace the BTC-backed digital credit plans. The project represents Metaplanet's aggressive long-term Bitcoin strategy amid Japan's review of crypto ETF approvals.
