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 information shared by Ripple, the partnership will focus on developing cross-border payments and strategies at an early stage 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:
The country seeks to enable cross-border remittances by changing the way its citizens access financial services.