Metaplanet, a Tokyo-listed bitcoin treasury company, announced on July 10 a joint study with yen stablecoin issuer JPYC and tokenization platform Progmat to explore bitcoin-backed bonds called Bitbonds with projected yields of 4% to 6%. The company, which holds approximately 43,000 BTC accumulated through early July 2026, has been clear that no concrete products exist yet and this remains a collaborative study. The June 2026 acquisition of Metaplanet Securities (formerly Siiibo Securities) gives the firm the broker-dealer infrastructure needed to distribute such financial products, though final terms, issuance timelines, and collateralization mechanisms have yet to be disclosed.
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