Metaplanet is shifting gears from merely holding Bitcoin to creating yield opportunities backed by its massive 43,000 BTC reserve, worth roughly $2.75 billion. The Tokyo-based company is exploring the launch of tokenized corporate bonds under Project NOVA, aiming for annual returns between 4% and 6%, a remarkable yield in Japan's persistently low-interest rate environment.
Announced on July 10, 2026, this initiative is still in the feasibility stage, conducted in partnership with JPYC, which offers yen-pegged stablecoin settlement services, and Progmat, a Japanese tokenization platform backed by financial institutions. The main goal is to test regulatory compliance, technical viability, and market demand for such bitcoin-backed credit instruments.
Unlike traditional bonds, Metaplanet envisions fully on-chain settlements where issuance, coupon payments, and redemptions happen smoothly through stablecoin mechanisms, bypassing the usual banking infrastructure. This approach aims to modernize Japan's conservative bond market, offering investors in a country accustomed to near-zero returns a compelling new alternative.
The move follows Metaplanet's recent acquisition of Metaplanet Securities for 2.1 billion yen, enabling it to issue licensed securities and design compliant financial products beyond just accumulating crypto assets. The company funded much of its Bitcoin treasury through zero-interest bonds, including an ¥8 billion issuance in April 2026, effectively using free capital to buy Bitcoin.
