Metaplanet, the third-largest publicly traded holder of bitcoin, is looking to move beyond simply accumulating the cryptocurrency and into the tokenised credit market, in a push to establish
Metaplanet, the third-largest publicly traded holder of bitcoin, is looking to move beyond simply accumulating the cryptocurrency and into the tokenised credit market, in a push to establish bitcoin as a foundational asset within the wider financial system. The Tokyo-based company has launched a joint study with yen stablecoin issuer JPYC and security-token platform Progmat to examine whether its bitcoin treasury could underpin a new class of digital credit products in Japan.
According to a Friday statement from Metaplanet, the collaboration will examine using bitcoin as collateral for credit instruments that accrue interest daily. Such a market exists in the United States but is absent in Japan. Tokenising the instruments on-chain would enable 24-hours-a-day, seven-days-a-week, 365-days-a-year trading and settlement.
