Metaplanet Greenlights Dividend-Paying Shares for Overseas Institutions - A Strategic Crypto Bridge?

Tokyo-based Metaplanet just handed international investors a new key to its treasury—dividend-paying shares specifically designed for overseas institutions.

Why This Move Matters Beyond Borders

This isn't just another corporate reshuffle. By structuring shares to pay dividends directly to foreign entities, Metaplanet is effectively building a formal conduit for global capital. It bypasses the traditional, often clunky, pathways for international investment, creating a streamlined route straight into its equity structure.

The Unspoken Crypto Connection

While the announcement is framed in traditional finance terms, the timing and structure raise eyebrows. For a company actively accumulating Bitcoin on its balance sheet, this creates a potential two-way street: attracting institutional capital while potentially leveraging crypto-native treasury strategies. It's a hedge dressed in a suit and tie.

A Calculated Play for Liquidity and Legitimacy

The playbook is clear. Attract stable, long-term capital from overseas funds hungry for yield and exposure to alternative strategies. In return, Metaplanet gains not just liquidity, but a stamp of institutional legitimacy that's still rare in the crypto-correlated corporate world. It's a classic move—using old-world tools to fund a new-world vision.

One cynical take? It's a brilliant way to get traditional finance to fund a Bitcoin bet without them having to utter the 'B-word' in their investment committee meetings. The dividends are just the cover fee for the ride.

Key Takeaways

• Metaplanet approves preferred shares to fund growth while keeping Bitcoin central
• New dividend structures open access to overseas institutional investors
• Company holds 30,823 Bitcoin, ranking fourth among global corporate holders

Metaplanet has approved a significant reorganizing of its capital structure on Monday, providing the company additional sources to raise funds. The action will enable the biggest corporate Bitcoin holder in Japan to issue dividend-paying preferred shares. The ruling retains Bitcoin as the primary central part of the balance sheet with the addition of income-centering tools for the institutional investors.

The shareholders approved five proposals. The steps give Metaplanet the power to issue preferred shares and alter the dividend regulations. They also allow foreign institutional investors to participate. The approvals were confirmed following a meeting by Dylan LeClair, the bitcoin strategy director of the company.

5/5 Proposals Approved at the @Metaplanet Extraordinary Shareholder Meeting

1) Approve shift of capital stock and capital reserve to capital surplus to increase capacity for preferred share dividends & potential share buybacks. ✅

2) Increase the total number of authorized…

Among the approved changes, Metaplanet can reclassify capital reserves. This allows the payment of dividends and potential buybacks that are associated with preferred shares. The investors also endorsed the contents of doubling the authorized number of both Class A and Class B preferred shares.

Metaplanet Introduces Flexible Dividend Structures for Institutions

During the overhaul, the company has changed its dividend framework. Metaplanet came up with an option of floating and periodic payouts. These facilities are more flexible than fixed dividends and WOULD align with institutional income approaches.

Metaplanet also registered the issue of Class B preferred shares for foreign institutional investors. This MOVE expands access to the domestic market of Japan. It provides international investors with a controlled equity path associated with the Bitcoin interests of the company.

Metaplanet owned approximately 30,823 Bitcoin worth approximately $2.75 billion, as per data by Bitcoin Treasuries. The assets put the company within the largest corporate Bitcoin assets in Asia. It is also 4th among known corporate holders around the world.

The successful proposals signify a change in favor of common-share dilution growth. Metaplanet has now been combining its Bitcoin acquisition plan with income-earning instruments. Preferred stock is currently on the long-term Bitcoin balance sheet of the company.

Metaplanet is not selling direct Bitcoin yield. Rather, it is packaging exposure in terms of preferred shares. This structure is similar to the tools of institutional capital markets.

Preferred Share Updates Add Floating Rates and Call Options

One of the changes impacts the Class A preferred shares. Such shares will be in the FORM of a monthly floating-rate dividend structure known as Metaplanet Adjustable rate security. The format proposes regular payments of income rather than discretionary returns.

Class B preferred shares were also amended. They have added quarterly dividends and a 10-year issuer call option of 130% face value. The terms will provide Metaplanet with the opportunity to repurchase the shares at a premium in the future following the call period.

A put option is also granted to investors. It may be exercised when a qualifying IPO relating to the security does not take place in a period of one year. The offer provides a set-out if listing plans fail to proceed.

Metaplanet is still among the most monitored publicly traded Bitcoin-related companies in Asia. It is commonly compared to U.S. corporate models of Bitcoin treasury. The company announced last week that it would start trading over-the-counter in the U.S. using American Depositary Receipts upon establishing a subsidiary in Miami.