Osaka Prefecture selects four blockchain projects for subsidies

Osaka Prefecture has announced the selection of four projects to receive subsidies under its pioneering financial market formation support program. The initiative aims to utilize blockchain and AI technologies to enhance business efficiency, improve citizen convenience, and strengthen Osaka’s position as an international financial hub.

Three of the selected projects will focus on testing payments using stablecoins, specifically the Japanese yen-based JPYC and the US dollar-based USDC. HashPort will demonstrate a system for retail and restaurant payments, including escrow-style transactions for e-commerce, with testing planned for early 2027. Myna Wallet, in collaboration with Sumitomo Mitsui Card, will test stablecoin payments using stera terminals at commercial facilities. Mi&T, a venture from Osaka Metropolitan University, will conduct in-store JPYC payment trials at local eateries near the university campus.

The fourth project, led by SBI XDC Network APAC in partnership with TOPPAN, will focus on the export sector. It aims to verify a blockchain-based process for used auto parts exporters, covering everything from Know Your Business (KYB) verification to export factoring and payment collection.