Metaplanet acquires Siiibo Securities, planning to build a Bitcoin fixed income market based in Japan

According to The Block, the Japanese listed company Metaplanet has acquired Siiibo Securities, which holds a type of financial product business license, and is authorized to design and sell securities in Japan.

Research firm Benchmark pointed out that the market generally views this acquisition of approximately 2.1 billion yen (about 13 million USD) as a small-scale expansion. However, Metaplanet actually plans to use this as a basis to issue Bitcoin collateralized bonds called "Bitbonds" with an annualized interest rate of about 4% to 6%, and subsequently migrate to the blockchain and settle through stablecoins, gradually forming a secondary market. Metaplanet aims to allow companies wishing to adopt a Bitcoin balance sheet strategy to issue bonds on its platform to purchase BTC, and under the "Project Nova" roadmap, to create a new type of financial institution centered around Bitcoin. Currently, the company holds approximately 43,000 BTC, making it the third largest Bitcoin treasury among publicly listed companies globally.