The Republic of #Palau , population 18,000, teamed up with $XRP Ledger of #Ripple to launch its official stablecoin Palau Stablecoin (#PSC ) which is already being tested by government workers.

Is Palau's PSC Phase Two Redefining Digital Compliance? 🇵🇼

Palau's Ministry of Finance launched Phase Two of its Palau Stablecoin (#PSC ) program, partnering with Ripple to leverage its CBDC platform.

The focus includes developing a digital ecosystem, enhancing user engagement, and ensuring regulatory #compliance .

The initiative aims to address #challenges like high mobile data costs and complex currency movement across Palau's islands.

Offline transactions during power outages are also enabled. The first phase received positive feedback from 168 government volunteers using PSC for local transactions via mobile QR codes.

#Binance
#crypto2023