-Learn more about information content-

Ripple, a tripartite payment platform based in San Francisco, is running a new stablecoin project for Palau, a Micronesian country.

Surangel Whipps Jr., the current President of Palau, delivered a speech at an encryption conference in Singapore, pointing out that the island country has many new projects to use encryption assets, including stable currencies publicly issued by government departments and their Binance Pay.

"Palau is still working with Ripple to explore the establishment of a national stable currency. I hope it can be released quickly, which will also help to make payments easily and quickly.

Palau is also lucky to win the recognition of industry managers in the blockchain market, such as Zhao Changpeng of Binance, who visited me many months ago and discussed how to cooperate on the data settlement scheme, how to better use Binance Pay to carry out digital payment for data residents, and also participated in local commercial services. "

According to HP, the small size of the country makes it easier to include digital currency in its financial system.

"For Palau, this is a new world, but we are very happy to become a member of it. One of our advantages is that we are not big. I hope we can encourage our own government departments to better integrate into the changes that must be made in such a changing environment."

Last month, Ripple Labs published a paper on stable currency, saying that 2023 is undoubtedly a good year for US dollar linked crypto assets, because more and more institutions and investors choose them on the premise of obtaining more cross chain levels.

"As banks or banks and other financial institutions explore more examples of stable currency applications again, cross chain interoperability and its publicity, as well as the numerous benefits provided by blockchain technology and blockchain network, will become an important stepping stone to the future of stable currency."

According to Ripple, Palau's stable currency (the date of issue is not specified) will be released on XRP Ledger. XRP is mainly used to operate digital currency on Ripple payment platform, which means that crypto property will participate in the new stable currency project.

"Ripple has cooperated with the United Nations of Palau to help explore the stable currency of implicit government support on the public XRPL (XRP ledger). The inherent green environmental design of the ledger is crucial for a country famous for its leading cadres on climate issues."

Don't miss a beat – click for an encrypted email prompt to send to the outbox immediately

Check the actual operation of the price

Follow yourself on Twitter, Facebook and Telegram

Swimming Daily Hodl Mix