"The Metropolitan Government of Tokyo has launched a subsidy program extending subsidies to companies that use yen-based stablecoins as part of their business model. The subsidy, which can reach up to 40 million yen, can be used by companies to pay for different expenses, including the costs of using external infrastructure to process digital yen payments."
"According to the city's Bureau of Industrial and Labor Affairs, the city will subsidize initiatives that create use cases by utilizing actually issued SCs, in compliance with the Payment Services Act and other relevant laws and regulations."
"With this subsidy program, it seeks to solve social problems faced by Tokyo residents or businesses within Tokyo, improve the convenience of payments and remittances, and promote the construction of a digital yen-based economy."
The Metropolitan Government of Tokyo initiated a subsidy program to support companies utilizing yen-based stablecoins. The program offers up to 40 million yen to businesses that create use cases compliant with relevant regulations. This initiative aims to enhance payment convenience, address social issues, and establish a digital yen economy. The subsidies can cover various expenses, including infrastructure costs and expert consultations, with a focus on fostering a healthy market for stablecoins in Japan.
Read at news.bitcoin.com
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