According to a press release shared by Ripple, the XRP ledger is all set to partner with the Republic of Palau to help circulate digital dollars in the country. The press release also states that Ripple will be working on designing a USD-backed stablecoin that will help create other services such as corporate registries.
Despite facing turbulent price fluctuations in the market, Ripple has not given up on the idea of becoming the leading crypto player and is now partnering with the Republic of Palau to help the country secure its first digital currency.
Palau extends support to Ripple
Palau does not possess its independent fiat currency and its citizens rely on USD to manage their purchases. However, Palau has also made it clear that the country does not want to adopt XRP or any cryptocurrency as legal tender but it aspires to issue a digital version of government-backed USD.
Palau’s President Surangel S. Whipps Jr in this regard has stated that Ripple could provide th
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