I just noticed that the Tokyo Metropolitan Government released a pretty interesting stablecoin subsidy program this month. On the 15th, the Tokyo Metropolitan Industry and Labor Bureau officially launched a subsidy guide for yen stablecoins, aiming to strengthen the international status of the yen through the stablecoin ecosystem while building digital economic infrastructure.

The core idea of the subsidy is to support projects that use yen stablecoins for settlement, cross-border remittances, and other financial services. Each project can receive up to 40 million yen in subsidies, roughly equivalent to over 500,000 RMB, with the subsidy covering up to two-thirds of the related costs. Judging by this scale, the Tokyo government is serious about the stablecoin track.

The subsidy scope includes usage fees for external platforms (issuance platforms, wallets, blockchain node hosting), as well as professional services like legal consulting and auditing, and system development costs. Basically, it covers the main costs of implementing the project. The applying organizations need to have headquarters or branches in Tokyo, and project validation or implementation should generally be completed before the end of the fiscal year corresponding to the subsidy decision.

The message this policy sends is quite clear — Japan is seriously promoting the localization of stablecoins. From central bank digital currencies to stablecoin ecosystems, Japan’s moves in digital finance seem to be accelerating. Under this kind of policy support, yen stablecoins might find more application scenarios within the region.