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Ripple joins hands with Palau for ‘world’s first government-backed stablecoin’
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ambcrypto.comThe island nation of Palau is the latest country to announce a partnership with Ripple. The collaboration is set to explore the country’s strategy for a national digital currency with the XRP Ledger (XRPL).
The Western Pacific country and Ripple are now looking at the first-ever USD-backed digital currency, along with strategies for cross-border payments.
In a statement, Palauan President Surangel Whipps Jr. said,
“The first phase of the partnership will focus on a cross-border payments strategy and exploring options to create a national digital currency, providing the citizens of Palau with greater financial access.”
According to the San Francisco-based blockchain firm, this partnership is unique as it involves the implementation of the
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