Republic of Palau Partners with Ripple (XRP) to Develop Digital Currency Strategy • Coinkolik

Ripple (XRP) has announced that it has partnered with the Republic of Palau to explore the country’s first national digital currency and ways of using it with the XRP Ledger.

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According to the information shared by Ripple, the partnership will focus on developing cross-border payments and strategies in the initial phase and a USD-backed digital currency for Palau. Ripple will provide technical support to Palau, paving the way for the first government-backed stablecoin implementation to emerge in the first half of 2022.

The country’s president, Surangel Whipps Jr. On the subject he said:

“We are delighted to partner with Ripple as part of our commitment to lead in financial innovation and technologies”

The country wants to enable cross-border remittances by changing the way its citizens access financial services.

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