Metaplanet Explores Bitcoin-Backed Digital Credit in Japan

On July 10, 2026, Japanese company Metaplanet (TSE: 3350) — Japan's largest public Bitcoin holder, with a reserve of roughly 43,000 BTC — announced a joint feasibility study with stablecoin issuer JPYC and blockchain infrastructure provider Progmat, exploring a Bitcoin-collateralized digital credit product, CryptoBriefing reports.

Under the concept, Bitcoin serves as the collateral asset while settlement runs through JPYC — Japan's first regulated yen-pegged stablecoin. The product is structured to resemble a money-market instrument: the plan includes 24/7 trading on the Progmat platform, daily interest accrual, and automated settlement — essentially an attempt to bring the logic of traditional short-term debt instruments onto blockchain rails.

The initiative sits within Metaplanet's broader Project Nova program — a strategy to build a Bitcoin-centered financial ecosystem in Japan aimed at household savings and yield generation. Progmat has served as an infrastructure partner on projects with major Japanese banks since 2023, which adds regulatory weight to the effort.

One important detail: this is still purely a feasibility-stage study — specific launch timelines, product structure, and expected yield haven't been disclosed, and the product still needs to clear Japanese financial regulatory review.

The upshot: if the study succeeds, Japanese investors would get a regulated way to earn yield on Bitcoin without selling the asset or moving funds outside local, compliant infrastructure — something like what companies like Binance already offer with BTC Yield, but aimed specifically at Japan's regulated market.

This article is for informational purposes only and does not constitute investment advice.