• 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: Polymarket Set To Go Live In The US Following CFTC Approval, Says CEO
🚀 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: Polymarket Set To Go Live In The US Following CFTC Approval, Says CEO
Palau Stablecoin Ripple XRPL

Ripple-Based Palau Stablecoin Project Enters Next Phase: Report

Jake Simmons
by Jake Simmons
1 year ago
·
Posted in XRP
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Republic of Palau’s Ministry of Finance has reported the successful completion of Phase 2a of its National Government Payment Service Project, focusing on the integration of a stablecoin system powered by Ripple’s blockchain technology. The initiative, dubbed the Palau Stablecoin Program, aims to develop a national payment ecosystem that is both convenient and cost-effective, tailored specifically to address the needs of Palau’s unbanked and underbanked population.

Ripple-Based Palau Stablecoin Is A Success

During Phase 2a, which concluded on June 30, 2024, the collaboration with Ripple involved utilizing its Central Bank Digital Currencies (CBDCs) and blockchain platform to explore the integration of a tokenized USD into Palau’s financial infrastructure. This digital innovation is intended to emulate successful models like PayPal and Alipay but with enhancements to specifically suit the unique socio-economic conditions in Palau.

Related Reading: Ripple Vs. SEC Settlement: Here Are The Things You Should Know Going Forward

“In partnership with Ripple’s Central Bank Digital Currencies and Central Bank Engagements team, the project utilized Ripple’s Blockchain Technology to explore the feasibility of integrating a tokenized USD into Palau’s infrastructure,” the report adds.

It highlights the project’s critical achievements in creating a regulatory and technological framework capable of supporting the stablecoin. A major component of this phase was the near completion of the Payment Service Bill, which aims to establish a comprehensive legal framework that will govern the operations of the payment service. This bill addresses critical aspects such as licensing of payment providers, establishment of dispute resolution mechanisms, and enforcement of anti-money laundering (AML) and know-your-customer (KYC) regulations.

The technical infrastructure assessment reaffirmed the viability of supporting the stablecoin system, with planned upgrades to internet connectivity and compatibility enhancements across various digital devices throughout the archipelago. This infrastructure is pivotal in ensuring that all Palauans have access to the new digital payment service, thereby fostering greater financial inclusion.

Related Reading: Ripple Predicts ‘New Era’ For XRP Ledger, Here’s Why

Ripple has been instrumental in the strategic planning and implementation of the pilot program. Phase 2a was crucial for “the exploration of the Palau National Payment Service with a series of discussions between the MOF and Ripple aimed at revalidating previously identified use cases along with the key stakeholders identified as required to be part of the project ecosystem,” the report states.

What’s Next?

The project’s progression into Phase 2b aims to continue the development of the ecosystem, with a specific focus on integrating more comprehensive financial, legal, and business frameworks. This phase will also address the scalability of the payment system and ensure its robustness against potential security threats.

The Ministry of Finance expressed a strong commitment to the continuous improvement and growth of the ecosystem, indicating that “further integration of financial institutions, regulatory bodies, legal frameworks, participating businesses, and use cases are vital as we move towards a full-scale national deployment.”

At press time, XRP traded at $0.6086.

XRP price
XRP needs to reclaim the 0.236 Fib, 1-week chart | Source: XRPUSDT on TradingView.com
Featured image from Times Tabloid, 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

XRP Ledger news

XRP Ledger Activates On-Chain KYC/AML In Major Upgrade

1 minute ago
XRP

Coinbase Wallet Shows Massive XRP Cuts, What’s Going On?

11 hours ago
SEC Ripple XRP

Crypto Expert Says Something Big Is Coming For XRP, Why The October 18th Date Is Important

14 hours ago
emirates-crypto-pay-xrp-billets-avion-2026

Crypto et aviation : Emirates choisit le XRP pour 2026

23 hours ago
Ripple news

Ripple–Thunes Deal Targets Faster Payments Across 7 Billion Accounts

1 day ago
xrp cardano_charles_hoskinson_ada_adausd_optimized

BlackRock Holds Back on XRP as ETF Rumors Heat Up for Cardano, Polkadot, and Chainlink

1 day ago

Premium Sponsors

Press Releases

  • MemeCore...

    3 hours ago
  • XRP is expected to break through $7. APT Miner helps...

    10 hours ago
  • miner

    Expectations of a Federal Reserve rate cut and demand for...

    14 hours ago
  • miner

    BlackRock suspends XRP listing, price faces resistance...

    14 hours ago
  • miner

    The September Curse Returns: How Crypto Investors Can...

    14 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.