Japan’s biggest Bitcoin-holding company, Metaplanet Inc, has reported a massive profit surge for the third quarter. This comes as the Tokyo Stock Exchange (TSE) considers stricter oversight of firms heavily invested in cryptocurrencies.
According to the Metaplanet’s financial results for Q3 2025, the revenue jumped 1,700% year-over-year, reaching 4.3 billion yen. Its net profit surged to 13.5 billion yen, a sharp increase from a 321 million yen loss in the same period last year.
After shifting from hotel operations to a Bitcoin-focused treasury strategy in early 2024, Metaplanet has amassed 30,823 BTC. It is the fourth-largest publicly listed Bitcoin holder, according to BitcoinTreasuries.net.
Metaplanet’s balance sheet has expanded dramatically year-over-year, boosted by substantial crypto-related valuation gains. The firm’s total assets surged to ¥550.7 billion, while its equity ratio climbed to 96.7%.
Despite the strong results, Metaplanet said it will not distribute dividends this fiscal year, opting instead to strengthen its balance sheet.
Meanwhile, a recent Bloomberg report claims that the Japan Exchange Group Inc. (JPX), operator of the Tokyo Stock Exchange, is exploring measures to limit the expansion of crypto treasury companies.
This comes amid growing concern that retail investors have suffered steep losses from the recent drop in crypto-linked stocks.
JPX reportedly plans to monitor companies that raise concerns from a risk and governance perspective. People familiar with the matter said the exchange operator is considering stricter backdoor listing rules and may require firms with crypto holdings to undergo fresh audits.
Notably, at least three listed companies have reportedly put their crypto-buying plans on hold since September after pushback from the exchange operator.
Japan currently hosts 14 publicly listed Bitcoin-buying companies, the highest number in Asia. However, many of these stocks, including Metaplanet, have faced steep declines following early-year rallies.
Metaplanet’s shares, which skyrocketed more than 400% earlier in 2025, have fallen over 75% from their June peak. Despite that volatility, the company’s latest earnings show that the crypto pivot continues to deliver financially.
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Highlights: Singapore will pilot tokenized bills settled with central bank digital currency. Stablecoin regulations will focus on reserve backing and reliable redemption. Singapore supports tokenized bank liabilities through the BLOOM initiative. The Monetary Authority of Singapore (MAS) will initiate a pilot of the issuance of tokenized bills to primary dealers, which will be settled in the central bank digital currency (CBDC). This program aims to reinforce the digital finance ecosystem of Singapore and explore the real-world use of asset-backed tokens. Chia Der Jiun, the MAS Managing Director, said at the Singapore FinTech Festival that the trial will take place next year with additional details forthcoming. Chia pointed out that the concept of tokenization has ceased to be an experimental idea. “Are asset-backed tokens really out of the lab? Without a doubt,” he stated. He further pointed out that tokenization has not become large-scale yet, or rather, the “escape velocity,” pointing to the necessity to tackle structural challenges in the sector. The pilot aims to enhance the efficiency of settlement by allowing 24/7 processing and eliminating the need to use intermediaries. Banks involved in the pilot tests are DBS, OCBC, and UOB, which engaged in interbank overnight lending using the Singapore dollar wholesale CBDC. This experiment aligns with the objective of Singapore to scale tokenized finance with safe settlement assets. Singapore to Pilot Tokenized Bills, Introduce New Stablecoin Legislation Singapore’s central bank will move forward with building a scalable and secure tokenized financial ecosystem, with plans to pilot tokenized MAS bills next year and introduce legislation to regulate… pic.twitter.com/4EKa0d8XOt — ME (@MetaEraHK) November 13, 2025 Stablecoin Regulation and Industry Trials MAS is developing a legal framework for stablecoins alongside the pilot of tokenized bills. Singapore considers stablecoins as digital payment tokens, which fall under the Payment Services Act. The forthcoming law will focus on robust reserve support and effective redemption mechanisms. Chia also cautioned that unregulated stablecoins usually do not keep their pegs. He compared the risks to the 2008 money market fund crisis, which experienced funds “breaking the buck.” The MAS introduced the BLOOM initiative in October to facilitate the testing of tokenized bank liabilities and regulated stablecoins. MAS today announced a new initiative – BLOOM (Borderless, Liquid, Open, Online, Multi-currency), to extend settlement capabilities offered by financial institutions. For more: https://t.co/M8D7o04wXS — MAS (@MAS_sg) October 16, 2025 Recently, crypto exchange Coinbase launched Coinbase Business in Singapore, which offers businesses high-speed and programmable digital financial solutions. This partnership is based on the MAS’s BLOOM program, centered on borderless payments and innovative financial services. The pilot programs will test the regulated stablecoins for secure and efficient settlements. The Singapore government also intends to provide regulatory clarity to single-currency stablecoins. These tokens may be pegged with the Singapore dollar or major foreign currencies such as the U.S. dollar and the euro. The emphasis is on securing financial stability and making innovation possible. Global Collaboration and Fintech Innovation Singapore is enhancing international collaboration in order to develop tokenized finance. In July, Singapore and the UK agreed to explore joint ventures in AI-supported financial services and asset tokenization. Project Guardian will focus on cross-border tokenized asset trading and its impact on retail investors. The UK-Singapore Financial Dialogue united top MAS and FCA officials to plot regulatory and innovation plans. This partnership furthermore aligns with the broader vision of Singapore in providing a secure and scalable tokenized financial ecosystem. Through the integration of domestic pilots and international partnerships, Singapore aims to become the center of tokenized finance and digital payments. Next year, MAS will issue comprehensive guidelines on the pilot issuance of tokenized bills. eToro Platform Best Crypto Exchange Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users 9.9 Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.