The Tokyo-listed company is building Bitcoin-backed financing tools through Project Nova, but no Bitbonds product has officially launched and issuance timing remains unconfirmed.
Metaplanet is moving ahead with plans for a Bitbonds offering in Japan carrying a 4% interest rate as part of a broader push to raise capital for additional Bitcoin purchases, though no product has officially launched and the initiative remains in an exploratory study phase. The Tokyo-listed company has been developing Bitcoin-backed financial instruments for Japanese investors under Project Nova, a strategy supported by its June 2026 acquisition of Siiibo Securities for about ¥2.1 billion, or roughly $13 million, and the firm's rebranding as Metaplanet Securities. That deal gave Metaplanet a Type-1 securities license in Japan, a requirement for structuring and distributing products such as bonds. On July 10, 2026, Metaplanet also announced a partnership with yen stablecoin issuer JPYC and tokenization platform Progmat to develop Bitcoin-backed credit products and bonds using on-chain settlement infrastructure. By early July 2026, Metaplanet held about 43,000 BTC valued at nearly $2.8 billion. A July 27, 2026 report said the first tranche's 4% yield was at the low end of analyst estimates for Bitbonds returns of 4% to 6%. Investors are watching for the size of any initial issuance, the balance between institutional and retail demand, and whether the JPYC-Progmat settlement setup moves from planning into live deployment.