Metaplanet has officially launched Metaplanet Securities, transforming its full acquisition of Siiibo Securities into a regulated digital asset investment banking business built around Bitcoin-backed financial products.
Summary
- Metaplanet launched Metaplanet Securities after completing the acquisition of Siiibo Securities.
- The new regulated entity will develop Bitcoin-backed bonds and digital debt products under Project Nova.
- JPYC and Progmat are partnering with Metaplanet on a Bitcoin-backed digital credit ecosystem for Japanese investors.
According to Metaplanet, the new subsidiary succeeds the Tokyo brokerage acquired for JPY 2.1 billion, completing the transaction first announced in June.
The company said the business will operate under a Financial Instruments Business License regulated by Japan’s Financial Services Agency, which gives it a legal framework to organize and distribute securities products linked to digital assets.
Instead of limiting its strategy of holding Bitcoin to its balance sheet, Metaplanet said the securities business will focus on financial engineering and managed investment products designed for Japan’s capital markets. The company described the launch as the next step in Project Nova, its long-term plan to build Bitcoin-centric financial services.
Project Nova is moving forward in product development
Metaplanet Securities also launched Project Nova as its first major program under the new structure. The company said it aims to develop a digital credit ecosystem with yen stablecoin issuing JPYC and token platform Progmat by using its Bitcoin treasury as collateral to develop digital corporate bonds and structured credit products.
The proposed framework will combine Progmat security token infrastructure with JPYC stablecoins to support continuous trading, instant payments and automatic daily interest calculation. According to Metaplanet, these products are aimed at both institutional and retail investors who want controlled, yen-denominated exposure to Bitcoin-backed yields.
Earlier this month, Metaplanet, JPYC, Progmat and Metaplanet Securities launched a joint study to test whether Bitcoin can serve as a collateral or credit enhancement asset for blockchain-based credit instruments. The participants said at that time they will evaluate the product design, settlement, regulation, investor protection, and technical requirements before making any decision about the issuance.
The companies also said no launch date, product structure, product terms or distribution plans have been confirmed, and any future offerings will require internal approval and discussions with regulators.
From Bitcoin treasury to financial products
Project Nova builds on Metaplanet’s effort to generate income from its growing Bitcoin reserves instead of managing the asset solely as a depository. The company previously said that the strategy views Bitcoin as a productive security that can support financial products within Japan’s regulated securities framework.
The acquisition of Siiibo Securities, announced in June and completed on July 13, gave Metaplanet control of an established corporate bond platform and existing investor network. Company information released during the procurement process said Siiibo has supported more than 40 companies and more than 100 bond issuances, mainly through private sector bonds and debt financing.
Meanwhile, Metaplanet continued to expand its Bitcoin portfolio while building a new business. The company disclosed on July 10 that it held 43,000 BTC after buying 2,823 BTC during the second quarter. It also said it plans to increase its holdings to 210,000 BTC by the end of 2027 while developing financial products backed by those holdings.
