“The four companies will examine issues of product design, the need for proof-of-concept initiatives, and the possibility of future release,” MetaPlanet said in a statement. “At this time, nothing has been determined regarding the timing of the issuance, conditions, yield, product description, distribution methods or form of cooperation.”
Japan’s traditional credit market is skewed in favor of large corporations making public bond offerings. According to MetaPlanet, medium-sized and growth companies often face higher costs and operational burdens around issuance, sales, investor management, interest payments and redemptions.
Digital credit can open up the credit market to these smaller companies, connecting traditional capital markets with onchain technology, enabling 24/7 global trading and settlement, holder-level rights management, automated prorated interest calculations, and transparent onchain payments/redemptions.
key roles
Every company is bringing forward its strengths. MetaPlanet and its securities arm will design and create new products that combine Bitcoin with credit offerings. They will also handle selling them to investors, communicating with customers, and managing everything afterward.
JPYC will explore the use of its stablecoin in this process, ensuring that it can be easily used for payments and redemptions.
Progmat will provide a secure, regulated system for converting products into digital tokens on the blockchain. This includes tracking ownership, handling transfers, and connecting everything to the stablecoin payment system.