Japanese investment and Bitcoin treasury company Metaplanet, its securities arm Metaplanet Securities, stablecoin issuer JPYC and tokenization provider Progmat announced a joint study on Bitcoin‑backed digital credit products in Japan. The study will examine using Bitcoin as collateral or credit enhancement for digital corporate bonds and other credit instruments, with 24/7 accessibility, settlement and daily interest accrual on a blockchain ledger. No product has been launched yet. Metaplanet, the world’s third‑largest corporate Bitcoin holder with approximately 43,000 Bitcoin valued at about $4.1 billion, said the research aims to develop a more efficient and transparent credit market for issuers and investors. The work is part of Project Nova, announced earlier this year, which seeks to create a Bitcoin financial services ecosystem in Japan and to deliver new yield products and capital‑market access to retail and institutional investors. Metaplanet has previously acquired Siiibo Securities and established Metaplanet Ventures to support Bitcoin development in Japan. In the tokenized real‑world asset sector, corporate credit tokenization was valued at $1.76 billion, according to RWA.xyz. The joint study has no issuance timeline and Metaplanet has not indicated plans to launch a product.