On May 31st, the Tokyo Metropolitan Government announced that it will start an initiative to expand the market by creating various examples of digital securities issuance and widely sharing know-how and challenges.
Based on the Financial Instruments and Exchange Law and the Real Estate Specified Joint Enterprise Law, businesses in Tokyo that issue digital securities (security tokens) will be subsidized for part of the expenses necessary for issuance.
Expenses eligible for subsidies include platform usage fees, consultation expenses with experts, and system development expenses.
The application period is from May 31, 2023 to February 29, 2024. However, if the budget limit is reached, the acceptance will be closed. Subsidies will be selected at a screening meeting held approximately every one to two months.
｜ Editing: CoinDesk JAPAN Editorial Department