Posted 12/17/2023, 9:00:00 AM
Palau Advances Digital Currency Program, Partners with Ripple to Expand Blockchain-Based Payments
- Palau launches phase 2 of its Palau Stablecoin (PSC) program, aiming to extend partnership with Ripple to leverage its CBDC platform and expertise
- Focus on developing digital ecosystem, increasing user engagement, emphasizing regulatory compliance
- Highlights benefits of blockchain-based digital currency like reduced fees, addressing environmental impact
- Notes challenges like complexity of money transfer across 340 islands, high mobile data costs
- Builds on success of phase 1 over 3 months with 168 govt employee volunteers using PSC at local retailers via mobile phones