Metaplanet Prepares to Launch Bitcoin-Backed Bonds with 4% to 6% Yields

Tokyo-listed Metaplanet plans to issue Bitcoin-backed bonds known as Bitbonds, which could offer annual yields of 4% to 6%. The proposed products would use Metaplanet's large Bitcoin reserve as collateral for fixed-income products. This move is part of Project NOVA, a collaboration between Metaplanet, JPYC, and Progmat, with the goal of creating financial products for Japanese investors.

Metaplanet has held about 43,000 BTC by early July 2026, supporting its Bitcoin-backed product strategy. The company built this reserve through repeated purchases, including acquisitions funded through zero-coupon bond sales. This model follows a strategy used in the United States.

The proposed Bitbonds would pay investors a fixed return backed by Bitcoin held in Metaplanet's treasury. Blockchain settlement could reduce delays and lower some processing costs, but the plan must meet Japan's securities, stablecoin, custody, and investor protection rules before any bond can reach the market.