CoinDesk·4 min read·hard
Metaplanet explores bringing bitcoin-backed digital credit to Japan
O
Omkar Godbole
✦AI Summary
Tokyo-based Metaplanet is exploring the creation of bitcoin-backed digital credit instruments to help mid-sized companies access debt markets. The company is collaborating with several financial firms to study the feasibility of these products in Japan.
The Tokyo-based company said it is studying whether bitcoin could be used as collateral for credit instruments with daily interest accrual, a market it says exists in the U.S., but not Japan. Digitization would allow 24/7/365 trading and settlement of the instruments, it said in a Friday statement .
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