Japan opens up to Metaplanet: a golden opportunity in the digital instrument market

Metaplanet is in a privileged position to conquer the Japanese market for credit instruments linked to Bitcoin. The reason is clear: Strategy has decided not to launch its preferred perpetual products in the region for at least the next 12 months. This strategic pause of a key competitor clears the way for Metaplanet to establish itself as a leader in high-yield Japanese instruments.

Japan: a dormant market waiting for activation

The current landscape of the Japanese perpetual preferred stock market is surprisingly limited. Only five products are currently operating, reflecting years of slow development. However, this apparent weakness is precisely what attracts Metaplanet. The company sees Japan not as a saturated market, but as a virgin region with enormous growth potential.

During the Bitcoin MENA 2025 conference, Strategy CEO Michael Saylor was direct when responding about their plans in Japan: the company will not enter the Japanese market in the next 12 months. This statement effectively grants Metaplanet an unprecedented window of opportunity to establish its leadership in Japanese instruments before facing direct competition.

Mercury and Mars: Metaplanet’s strategy

Metaplanet has designed two products specifically to transform the digital credit ecosystem in Japan. Mercury will serve as its main offering, promoting a 4.9% yield in yen with a convertibility option. To put this into perspective, most traditional bank deposits in Japan offer nearly insignificant returns, making Mercury almost ten times more attractive.

Mercury is in pre-IPO phase with an expected listing in early 2026. Mars, on the other hand, adopts an alternative structure designed for investors seeking short-term income without long-term commitments, reflecting a diversified product strategy.

Both instruments represent Metaplanet’s bet to lead the next generation of cryptocurrency-backed credit products in Asia. The initial strategy emphasizes consolidation in Japan, with regional expansion as the next phase.

Financial strength to support growth

Metaplanet continues to demonstrate financial solidity through Bitcoin-backed financing. In November, the company secured a $130 million loan under its $500 million credit line, highlighting access to significant capital.

Metaplanet’s treasury includes 30,823 BTC valued at approximately $2.7 billion. With an average purchase price of $108,070, the position currently shows unrealized losses while Bitcoin trades below that level.

Market context: volatility and opportunity

The current environment presents challenges. Corporate Bitcoin treasury inflows reached only $1.32 billion in November, the lowest level recorded in 2025. Strategy’s shares retreated more than 35%, while Metaplanet fell more than 20%, coinciding with Bitcoin’s near 25% drop from October highs.

However, it is precisely in this volatile environment that initiatives like Mercury and Mars gain relevance. With Bitcoin operating near $90k, the development of digital credit instruments in Japan appears to be one of the most significant moves capable of reshaping market sentiment in this phase of the cycle.

The next decade could see a global expansion of digital credit, with leaders like Metaplanet setting the standard. For now, the market is closely watching how this company transforms Japanese instruments from a marginal category into a dynamic segment.