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Headline : Tokyo to promote digital securities on blockchain and subsidize setup costs

Read more from the original article on here at coingeek.com.





Tags : #tokyo #promote #digital #securities #blockchain #subsidize #setup #costs


No. of Paragraph 23

Home » Business » Tokyo to promote digital securities on blockchain and subsidize setup costs

In a bid to promote the use of digital financial instruments, the Tokyo Metropolitan Government has updated its subsidy program for businesses issuing securities using blockchain technology. The subsidy aims to show how ledger technology like blockchain allows issuers and investors to connect directly and will enable businesses to issue securities in smaller amounts.

The subsidy program itself has existed since 2020. However, the municipal government will increase the maximum support amount from JPY 3 million (US$19,000) to JPY 5 million ($31,500) or more and extend the program to include years up to and including fiscal 2026 (in Japan, April 2026-January 2027).

“The Tokyo Metropolitan Government will continue to strengthen its efforts this fiscal year to expand the market by creating a variety of digital securities issuance cases and widely sharing know-how and issues,” it said.

Read more from the original article on here at coingeek.com.


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