The Republic of Palau has released a report detailing the positive outcomes of the initial phase of its stablecoin pilot. Launched in June 2023 with 200 volunteers, the pilot utilized Ripple Ledger technology to manage wallet transactions. The Ministry of Finance (MOF) disclosed that over 700 transactions occurred during this phase, with more than 400 being payments to retail merchants. The report highlights the favorable experiences of both participants and retailers, emphasizing the positive reception of the palau stablecoin (PSC) as a digital payment system, despite initial opposition from some government officials. (Source: Bitcoin.com)
Related
HK SFC Licenses Four Virtual Asset Trading Platforms Under Streamlined Licensing Process & Issues Circular
UK FCA Publishes Consultation Paper on Private Stock Market PISCES to Transform UK Capital Access
UK FCA Publishes Discussion Paper DP24/4 Seeking Feedback on Strengthening Transparency and Market Integrity in Crypto Markets
US SEC Publishes Mandatory Electronic Filing and Website Disclosures for Financial Forms and Reports and Updates to FOCUS Reports
ASIC Sues Binance Australia Derivatives for Misclassifying Retail Clients and Consumer Protection Failures