Metaplanet has completed the first issuance of "BitBonds," with a total size of approximately ¥200 million.

BlockBeats News, August 14th. According to Metaplanet CEO Simon Gerovich, Metaplanet has established a "BitBonds" bond issuance plan and completed the first issuance. The company issued the 21st to 24th unsecured ordinary bonds under the Japanese small private placement system through its wholly-owned subsidiary Metaplanet Securities, with a total size of approximately 200 million yen.

Gerovich stated that this issuance is relatively small and serves as a pilot project to establish the framework for future issuance, distribution, and management of BitBonds. BitBonds are unsecured ordinary bonds and are not backed by the Bitcoin held by Metaplanet. Leveraging its Bitcoin reserve asset balance sheet and the financial product issuance, distribution, and management capabilities of its securities company, Metaplanet will further develop the related financial product platform.