Metaplanet, JPYC, Progmat start Bitcoin-backed credit study

A Japanese investment firm known for its massive Bitcoin holdings has launched a joint study to explore the creation of digital credit products backed by the cryptocurrency. Metaplanet, along with its brokerage arm Metaplanet Securities, yen-pegged stablecoin issuer JPYC, and digital securities platform Progmat, announced the feasibility study on July 10, 2026.

The research will examine a model where Bitcoin serves as collateral for credit instruments like digital corporate bonds. The Japanese yen stablecoin JPYC would handle settlement and payments, while security tokens would represent fractional ownership and manage investor rights. The proposed system aims to support continuous, around-the-clock trading and daily interest accrual for holders.

Metaplanet emphasized that the initiative is purely exploratory. No decisions have been made regarding the timing, terms, yield, or structure of any potential product. The study will focus on assessing product design, regulatory compliance, operational flows, investor protection, and technical requirements. Any future issuance would require separate announcements and regulatory clearance.

The move aligns with Metaplanet's broader...