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Strategy will not issue permanent preference shares in Japan, Metaplanet gets 12-month first-mover advantage

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2025-12-09 09:46:51
According to CoinDesk, Strategy (MSTR) Executive Chairperson Michael Saylor confirmed at the Bitcoin MENA conference that the company will not launch a perpetual preference share or "digital credit" product in Japan for the next 12 months, giving Metaplanet a 12-month market first-mover advantage.
Metaplanet plans to launch two new digital credit instruments, "Mercury" and "Mars", to benchmark Strategy's STRK and STRC products, respectively. Mercury will offer a 4.9% yen yield, which is about ten times the return on deposits in Japanese banks. Since Japan does not allow market sales (ATMs), Metaplanet will use a mobile call-over warrant (MSW) mechanism. Metaplanet CEO Simon Gerovich said he hopes to complete the listing of Mercury by early 2026.
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