Metaplanet Explores Bitcoin Lending Market With JPYC and Progmat
Metaplanet wants to use BTC as collateral for digital lending products in Japan through JPYC, Progmat, and Siiibo Securities. The move could open up a new market beyond traditional spot trading.
Key Takeaways
- Metaplanet is working with JPYC, Progmat, and Siiibo Securities to explore whether Bitcoin can back digital lending products in Japan.
- The company says the products would allow interest to be calculated daily and make trading and settlement possible around the clock.
- Siiibo Securities will be renamed Metaplanet Securities and will give the company access to a license for issuing and distributing Bitcoin-linked products.
Metaplanet is teaming up with JPYC, Progmat, and Siiibo Securities to test whether Bitcoin can serve as collateral for digital lending products in Japan. The Tokyo-based company says it wants to move beyond simply holding BTC and tap into a market it believes already exists in the United States, but not yet in Japan.
Bitcoin as Collateral
Metaplanet says the products would be structured as lending instruments with interest calculated every day. Because they would be digitized, the company says trading and settlement could happen 24/7. That fits a broader trend in which Bitcoin is increasingly viewed not just as a treasury asset, but also as the base layer for new financial products.
The partnership is notable because Metaplanet is making it clear that it wants to build a Bitcoin-centered financial ecosystem. The company is the third-largest publicly traded holder of Bitcoin, and it plans to use that position to develop products that connect BTC with lending and distribution.
The Partners' Roles
Siiibo Securities, which Metaplanet bought last month for 2.1 billion yen, will be renamed Metaplanet Securities on July 13. The deal gives Metaplanet access to a Type I Financial Instruments Business Operator license, which could make it easier to issue and distribute Bitcoin-linked products in Japan.
JPYC is examining how its yen stablecoin could be used for payments and redemptions. Progmat, meanwhile, offers a regulated platform for security tokens, including ownership records, transfers, and connections to the payment system. Metaplanet also said nothing has been finalized yet regarding timing, terms, returns, product details, or distribution.
Metaplanet is still expanding its publicly traded Bitcoin strategy as well. Its recent purchase of 2,823 BTC showed just how quickly the company’s treasury continues to grow.
Why This Matters for Europe
For European crypto readers, the story shows how the market can move well beyond simple spot buying and into products that use Bitcoin as collateral. These structures are especially interesting because they try to bring together traditional capital markets, stablecoins, and tokenized ownership in one model. In Japan, this could become a test case for wider acceptance of onchain lending products, and the outcome may also matter for firms in other regions that are considering similar setups.
