"Ripple and Palau: Phase 2 Advances in the Development of a CBDC with a Focus on Security and Transparency"
1. CBDC with Parity: The Republic of Palau, through its Ministry of Finance, promotes phase 2 of the Palau Stablecoin (PSC) program, highlighting the creation of a stable cryptocurrency backed by a Central Bank that will maintain a constant price parity with the US dollar.
2. Collaboration with Ripple: The choice of Ripple's platform for the development of the CBDC highlights the adoption of advanced blockchain technologies, promoting efficiency and security in digital transactions.
3. Phase 2: Digital Ecosystem and Legal Compliance: In this stage, the focus is on building a robust digital ecosystem, with emphasis on accessibility and user participation, legal and regulatory compliance, marking an important step towards security and transparency in line with international standards.
The initiative also highlights new collaborations in marketing, sustainability goals and environmental practices, showing a comprehensive commitment to the evolution of Palau's CBDC. These advances come in a global context where concerns about privacy and self-custody face challenges in the rise of CBDCs.
