The blockchain based payment settlement protocol, Ripple is likely to witness some crucial updates in near future. Recently it was reported to be working towards supporting a country’s stablecoin project. Ripple is said to be working with local teams in the Republic of Palau in order to develop a native stablecoin.
Ripple to Develop Stablecoin for Palau
Pseudonym Ripple and XRP news aggregator over Twitter, WrathofKahneman shared a screenshot of Palau President’s speech mentioning the initiative. It noted that the country took steps towards exploring the creation of ‘national stablecoin’ while collaborating with Ripple.
President of Republic of Palau Surangel S. Whipps Jr. reported to attend ‘Recovery and Resilience: Spotlight on ASEAN Business’ event held in Singapore in September. During the event he stated that the stablecoin would make it easier and secure local payments within the region.
Within several months, XRP Ledger (XRPL) was reported to indulge in developin
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