Metaplanet Unveils Plans for Bitcoin-Backed Bonds Yielding Up to 6%

Metaplanet is planning to issue Bitcoin-backed bonds that could offer yields of up to 6%, according to Benchmark. The company acquired a Japanese brokerage, Siiibo Securities, for JPY 2.1 billion ($13 million), which will be used to develop the bond platform.

The proposed Bitbonds would initially offer annual yields of about 4% to 6%. Metaplanet plans to bring the bonds onchain, use stablecoins for settlement, and establish a secondary market over the next several years. The company's subsidiary, Metaplanet Securities, will operate as a digital asset investment banking business focused on Bitcoin-linked financial products.

The acquisition of Siiibo Securities gave Metaplanet control of a Type I Financial Instruments Business Operator licence regulated by Japan's Financial Services Agency. This licence permits the subsidiary to structure and distribute securities in Japan.