Lens1000
VIP Contributor
Surprisingly, Palau's president, S. Whipps Jr, announced the country's partnership with XRP. XRP is currently one of the world's major digital payment channels, and its token is ripple.
The cooperation aims to produce a stablecoin that can be used on the XRP blockchain.
The project might be a successor for the central bank digital currency (CBDC) projects that have been embraced by several governments, according to the XRP founder.
The most intriguing aspect of the initiative is that it is backed by US dollars, despite the fact that XRP is currently being sued in the country.
The characteristics of Palau's stablecoin have been merged into the XRP ledger, and it is scheduled to be released soon.
Despite the legal pressure from the US Securities and Exchange Commission, XRP has continued to grow tremendously, with a market valuation of over $49 billion.
What's your take?
The cooperation aims to produce a stablecoin that can be used on the XRP blockchain.
The project might be a successor for the central bank digital currency (CBDC) projects that have been embraced by several governments, according to the XRP founder.
The most intriguing aspect of the initiative is that it is backed by US dollars, despite the fact that XRP is currently being sued in the country.
The characteristics of Palau's stablecoin have been merged into the XRP ledger, and it is scheduled to be released soon.
Despite the legal pressure from the US Securities and Exchange Commission, XRP has continued to grow tremendously, with a market valuation of over $49 billion.
What's your take?
