Republic of Palau Joins Hands Ripple to Develop Digital Currency Strategy

Posted on by American Coins & Gold

Republic of Palau Joins Hands Ripple to Develop Digital Currency Strategy
Global payments company Ripple has partnered with the island country Republic of Palau to develop strategies for a digital currency.“The partnership will initially focus on developing strategies for cross-border payments and a USD-backed digital currency for Palau,” the fintech company announced on Tuesday.This could lead to the implementation of the the world’s first government-backed stablecoin in the first half of next year. Ripple would provide the country with technical, business, design and policy support.For countries like Palau a USD-backed stablecoin could provide a viable alternative to central bank digital currencies (CBDCs), Ripple said.“As part of our commitment to lead in…