Japanese investment company Metaplanet issued $21 million in zero-interest bonds to Evo Fund, a Cayman Islands-based investment firm, just a day after announcing a separate $50 million raise, further accelerating its Bitcoin accumulation strategy.
The 17th series of bonds, issued on May 29, comes with a face value of $525,000 each and will mature on Nov. 28, 2025. Unlike traditional debt instruments, these bonds yield no interest, allowing Metaplanet to borrow without additional repayment costs.
Under the terms, Evo Fund is entitled to early redemption by giving at least five business days’ notice. The bonds can be redeemed in full or in part, in multiples of $525,000.
Metaplanet may also trigger redemptions tied to future fundraising rounds involving the same investor, depending on cumulative payments.
There is no collateral or guarantee attached to the bonds, and no bond administrator has been appointed, as permitted under Japanese corporate law. The company has