Metaplanet Wants to Put Bitcoin Behind Japan’s Corporate Credit Market

By Isaac • July 11, 2026 7:09 pm •

Corporate Bitcoin treasuries have spent years answering one question: how much can a company accumulate?

Metaplanet is now testing a harder one.

Can the Bitcoin on a public company’s balance sheet become useful backing for a regulated credit market?

The Tokyo-listed company has joined JPYC, Progmat, and its newly acquired securities arm in a study of digital corporate bonds and other credit instruments. The proposed machinery would combine Bitcoin backing, tokenized ownership records, and yen-denominated stablecoin settlement.

There is no bond to buy yet. No yield, issuance date, final collateral formula, or distribution plan has been approved.

The Metaplanet joint-study announcement names the effort Project NOVA and places it across the broader digital-credit market, from corporate