Metaplanet Inc. (3350.T) has initiated its Bitcoin-backed securities business after completing its acquisition of Siiibo Securities, with the company's stock experiencing a 5.65% decline to end trading at 234.00 JPY. The launch of Metaplanet Securities represents a significant strategic shift, transitioning from Bitcoin treasury holdings to regulated digital asset financial products.

Overview of Metaplanet Securities Launch

Following a successful acquisition valued at JPY 2.1 billion, Metaplanet has restructured Siiibo into a regulated digital asset investment banking operation. The acquisition, initially announced in June, was finalized on July 13. Operating under a Type I Financial Instruments Business Operator license, the new subsidiary is regulated by Japan’s Financial Services Agency, allowing it to create and distribute financial products linked to digital assets.

Project Nova and Future Initiatives

Metaplanet aims to expand its offerings beyond its Bitcoin treasury through Project Nova, which is focused on developing investment products rather than solely depending on balance sheet exposure. The first major initiative under this project involves collaborating with JPYC and Progmat to create Bitcoin-backed credit products.

  • Collaboration with JPYC and Progmat on blockchain-based financial products
  • Use of Bitcoin reserves as collateral for digital corporate bonds
  • Focus on yen-denominated Bitcoin-backed investment exposure

As part of this initiative, the partners are exploring a framework that combines Progmat’s tokenization infrastructure with JPYC’s yen stablecoin ecosystem, enabling continuous trading and accelerated settlement processes. However, no commercial products have yet been introduced under this framework.

In a recent development, Metaplanet, JPYC, Progmat, and Metaplanet Securities have commenced a joint study on Bitcoin-backed credit products, assessing structures, settlement systems, and regulatory requirements. This shift towards regulated financial services underscores Metaplanet’s commitment to integrating digital assets into traditional financial markets.

This material is for informational purposes only and does not constitute financial advice.