Metaplanet completes Siiibo deal and launches securities subsidiary

Metaplanet has officially launched Metaplanet Securities, turning its completed acquisition of Siiibo Securities into a regulated digital asset investment banking business built around Bitcoin-backed financial products.

Summary

• Metaplanet has launched Metaplanet Securities after completing its acquisition of Siiibo Securities.
• The new regulated business will develop Bitcoin backed bonds and digital credit products under Project Nova.
• JPYC and Progmat are working with Metaplanet on a Bitcoin backed digital credit ecosystem for Japanese investors.

According to Metaplanet, the new subsidiary succeeds the Tokyo-based brokerage acquired for JPY 2.1 billion, completing a transaction first announced in June.

The company said the business will operate under a Type I Financial Instruments Business Operator licence regulated by Japan’s Financial Services Agency, giving it the legal framework to structure and distribute securities products linked to digital assets.

Rather than limiting its strategy to holding Bitcoin on its balance sheet, Metaplanet said the securities business will focus on financial engineering and regulated investment products designed for Japan’s capital markets. The company described the launch as the next step in Project Nova, its long-term plan to build Bitcoin-focused financial services.

Project Nova moves toward product development

Metaplanet Securities has also introduced Project Nova as its first major initiative under the new structure. The company said it intends to develop a digital credit ecosystem with yen stablecoin issuer JPYC and tokenization platform Progmat by using its Bitcoin treasury as credit-enhancement collateral for digital corporate bonds and structured credit products.

The proposed framework would combine Progmat’s security token infrastructure with JPYC’s stablecoins to support continuous trading, near-instant settlement and automated daily interest calculations. According to Metaplanet, the products are intended for both institutional and retail investors seeking regulated, yen-denominated exposure to Bitcoin-backed yields.

Earlier this month, Metaplanet, JPYC, Progmat and Metaplanet Securities launched a joint study to examine whether Bitcoin could serve as collateral or a credit-enhancement asset for blockchain-based credit instruments. The participants said at the time that they would evaluate product design, settlement, regulation, investor protection, and technical requirements before making any decision on issuance.

The companies also stated that no launch date, yield structure, product terms or distribution plans had been approved, and any future offering would require internal approvals together with discussions with regulators.

From Bitcoin treasury to financial products

Project Nova builds on Metaplanet’s effort to generate income from its growing Bitcoin reserves instead of treating the asset solely as a treasury holding. The company previously said the strategy views Bitcoin as productive collateral that can support financial products within Japan’s regulated securities framework.

The acquisition of Siiibo Securities, announced in June and completed on July 13, gave Metaplanet control of an established online corporate bond platform together with an existing investor network. Company information released during the acquisition process said Siiibo had supported more than 40 companies and over 100 bond issuances, primarily through private placement corporate bonds and venture debt financing.

Meanwhile, Metaplanet has continued expanding its Bitcoin treasury while building the new business. The company disclosed on July 10 that it held 43,000 BTC after purchasing 2,823 BTC during the second quarter. It has also said it plans to increase its holdings to 210,000 BTC by the end of 2027 while developing financial products backed by those reserves.