On August 14, Metaplanet CEO Simon Gerovich announced that Metaplanet has established a 'BitBonds' bond issuance program and completed its first issuance. The company issued unsecured ordinary bonds, phases 21 to 24, under Japan's small private placement system through its wholly-owned subsidiary, Metaplanet Securities, with a total scale of approximately 200 million yen. Gerovich stated that this issuance is relatively small and primarily serves as a pilot to establish the framework for future issuance, distribution, and management of BitBonds. BitBonds are unsecured ordinary bonds and are not collateralized by the Bitcoin held by Metaplanet. Metaplanet will leverage its Bitcoin reserve balance sheet, as well as the financial product issuance, distribution, and management capabilities of its securities company, to further develop a related financial product platform.