Metaplanet Studies Bitcoin-Backed Digital Credit Product With JPYC, Progmat

Metaplanet, a Japanese corporate Bitcoin treasury company, is studying the development of a digital credit product backed by Bitcoin.

The company said July 10 that it had begun joint research with JPYC and Progmat on a Bitcoin-collateralized digital credit product.

The study will examine the business case and technical feasibility of a digital credit product that uses Bitcoin as collateral, trades 24 hours a day and accrues interest daily. It will also focus on product structures that comply with Japanese financial regulations, as well as issuance methods and trading infrastructure.

Metaplanet will be responsible for its Bitcoin holding strategy and product design. JPYC will provide yen-based digital payment infrastructure, while Progmat will provide a platform for the issuance and distribution of tokenized assets.