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Tokyo authorities have launched subsidies for projects involving a stablecoin pegged to the yen, up to 40 million yen
The Tokyo government announced a support program for projects implementing a stablecoin linked to the yen and is ready to reimburse two-thirds of the development costs for use case scenarios. The maximum subsidy for a single project will be 40 million yen, applications are accepted until June 30. When selecting, they will consider social benefits, innovation, feasibility, scalability, as well as security, risk management, anti-money laundering measures, and user protection.