• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: World Liberty Financial Accuses Exchange Of Token Manipulation, Justin Sun Blacklisted
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: World Liberty Financial Accuses Exchange Of Token Manipulation, Justin Sun Blacklisted
Ripple Palau

Republic Of Palau And Ripple Labs Mint First Stablecoin (PSC)

Jake Simmons
by Jake Simmons
2 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In a significant development, the Republic of Palau has collaborated with Ripple Labs to mint its inaugural stablecoin, the Palau Stablecoin (PSC). Jay Hunter Anson, Director of Palau’s Digital Residency Program and member of Palau’s Ministry of Finance, shared the news on Twitter, shedding light on the partnership between the Palau National Treasury and Ripple Labs.

The event took place at the National Capitol in Ngerulmud, Palau, where representatives from both the Palau National Treasury and Ripple came together to celebrate the successful launch of the Palau Stablecoin. According to Anson, this marks a crucial step in their joint exploration of the stablecoin’s potential use cases within Palau.

“The PSC launch is an important milestone in our collaboration with Ripple, as we work together to explore the possibilities of this stablecoin in specific use cases within our country. We have received explicit approval from the Palau Congress, giving the PSC pilot program an official stamp of legitimacy,” Anson tweeted.

Palau Utilizes Ripple And XRP

Palau’s Ministry of Finance has initiated the Stablecoin project to address specific needs within the nation’s financial landscape. By sponsoring this project, the ministry aims to reduce payment costs within the Republic of Palau and enhance access to financial services, particularly for underserved communities and various socio-economic groups, using digital solutions.

Related Reading: Ripple Labs Case: CEO Brad Garlinghouse Slams SEC ‘Absurd’ Remarks

Remarkably, the Palau Stablecoin operates on the XRP Ledger (XRPL), showcasing Ripple’s technology as the backbone of this financial initiative.

Anson’s tweets also highlighted the meticulous approach taken in developing the Palau Stablecoin. Controlled and limited PSC pilot tests are conducted to assess the effectiveness and efficiency of the solution co-designed with Ripple. These pilot experiments provide valuable insights into the stability and usability of the Palau Stablecoin before its potential public release.

“Our controlled pilot tests have been enlightening, and we are optimistic about the potential impact of the Palau Stablecoin on our nation’s economy,” Anson stated.

The Palau Stablecoin pilot program has already seen volunteer users actively participating in the testing phase. Videos shared by Anson on Twitter showcased smooth transactions at partner vendors in Palau, promptly confirming the transaction receipts.

A Palau Stablecoin Pilot volunteer user makes a purchase at partner vendor Kings Mart in Koror, Palau 🇵🇼 The very limited & controlled PSC pilot tests specific use cases inside #Palau to validate our solution design in collaboration with #Ripple as authorized by the Palau… pic.twitter.com/WZNCsGQ2Jt

— Jay Hunter Anson (@JHX_1138) July 19, 2023

The successful implementation of the Palau Stablecoin pilot program has garnered attention from the XRP community, and anticipation is building for the official joint press release which is scheduled for July 27, 9:00 AM Thursday morning in Ngerulmud, Palau, as Anson revealed.

Related Reading: Judge Orders Ripple And SEC To Schedule Settlement Conference

As Bitcoinist reported, Ripple and the Republic of Palau entered into their partnership at the end of December last year. The island state does not have a functioning central bank and the US dollar is recognised as the main medium of exchange throughout the country.

The creation of a USD-backed stablecoin is said to be the result of the efforts of the national stablecoin initiative. In his remarks, the president described this as a “step towards our own central bank digital currency”.

As of press time, XRP was trading at $0.6870, just above the 23.6% Fibonacci retracement level at $0.6862. XRP bulls need to defend this support at all costs as the weekly close to unlock new upward momentum.

Ripple XRP price
XRP price, 1-week chart | Source: XRPUSD on TradingView.com
Featured image from Twitter, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jake Simmons

Jake Simmons

Follow

Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

Full Profile

Related Posts

Bitcoin Hyper Heats Up as Its $HYPER Token Presale Nears $14M Raised: Is It the Next Crypto to 1000x?

Bitcoin Hyper Heats Up as Its $HYPER Token Presale Nears $14M Raised: Is It the Next Crypto to 1000x?

4 minutes ago
Strategy

S&P 500 Potential: Strategy Could See $16 Billion Inflows With Index Inclusion–Bloomberg

36 minutes ago
Crypto

SEC’s Push For Crypto Clarity: New Rules On The Horizon To Address Industry Challenges

2 hours ago
WLFI

FOMO Ends In Pain: WLFI Whales Suffer Millions In Loses On Price Collapse

3 hours ago
trump ethereum eth ethusd (1)

Trump’s Bet Pays Off as Family Crypto Fortune Soars Past $5B

4 hours ago
BingX Launches WLFI Listing Carnival with 900K Token Reward Bonanza

BingX Launches WLFI Listing Carnival with 900K Token Reward Bonanza

16 hours ago

Premium Sponsors

Press Releases

  • MemeCore七日暴漲 211%引爆熱度 Snorter Bot...

    36 minutes ago
  • miner

    Is Bitcoin Investment Still Profitable? Use BTC Cloud...

    42 minutes ago
  • miner

    ADA’s path to long-term success: Integrating with...

    12 hours ago
  • Bitget and Bitget Wallet Support Trading of Over 100...

    15 hours ago
  • miner

    XRP Price From a High of $3.65 to a Low of $2.72: How GMO...

    18 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.