SummaryJapanese bitcoin treasury company Metaplanet unveiled a continuous bond issuance program, dubbed “BitBonds,” completing its first sale with four privately placed series worth about 200 million yen ($1.3 million).BitBonds gives Metaplanet a new fixed-rate funding channel alongside shares and equity-linked securities, with future issuance tied to market demand and funding needsThe unsecured, unrated bonds are backed by metaplanet’s overall creditworthiness, leaving investors indirectly exposed to swings in the value of its bitcoin-heavy balance sheet.Japanese bitcoin treasury company Metaplanet (3350) unveiled a continuous bond issuance program, dubbed “BitBonds,” completing its first sale with four privately placed series worth about 200 million yen ($1.3 million).The Tokyo-listed company said the unsecured senior bonds mature in roughly three years and carry annual interest rates of 4% to 4.3%. Solicitation began in late July and has now closed, according to an Aug. 13 disclosure.Metaplanet said BitBonds will sit alongside common stock, equity-linked securities and preferred shares as a core funding channel. Future issuance will depend on funding needs, market conditions and investor demand, with the company eventually considering registered public offerings.Unlike Metaplanet shares, which tend to reflect changes in the value of its bitcoin holdings, the bonds offer fixed interest and principal repayment based on the company’s creditworthiness. However, they are unsecured, unrated and not principal-protected, while the issuer’s financial position remains heavily exposed to bitcoin price swings.The bonds also carry transfer restrictions, and liquidity before maturity is not guaranteed.The inaugural securities were distributed through wholly owned Metaplanet Securities to individuals and companies under Japan’s small-number private placement rules, marking the firm’s broader push into Japan’s yen-denominated credit market.12345678910Building the Zcash Machine: Tachyon and Quantum ReadinessBuilding the Zcash Machine: Tachyon and Quantum ReadinessZcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.Jun 30, 2026Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.Why it matters:Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.View Full Report