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<ul>
 <li>Palau launches the second phase of its PSC stablecoin program with Ripple.</li>
 <li>Ripple’s XRPL powers Palau’s USD-pegged stablecoin for offline payments.</li>
 <li>Palau advances financial accessibility with a blockchain-based stablecoin and XRPL integration.</li>
</ul>
<p>In a groundbreaking move, the Republic of Palau has officially initiated Phase 2 of its <a href="https://cryptonewsland.com/ripples-xrp-ledger-ushers-in-new-age-of-transparency-with-palau-stablecoin-tracking/" target="_blank" rel="noopener noreferrer nofollow">Palau Stablecoin (PSC) program</a>, utilizing Ripple’s <a href="https://xrpl.org/index.html" target="_blank" rel="noopener noreferrer nofollow">XRPL</a> technology. The initiative, backed by Ripple’s CBDC Strategic Advisor Anthony Welfare, marks a significant milestone in the island nation’s digital currency journey.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> Palau's digital currency journey is soaring to new heights! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f3dd.png" alt="🏝" class="wp-smiley" style="height: 1em; max-height: 1em;"> Phase 2 of the Palau Stablecoin (<a href="https://twitter.com/hashtag/PSC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#PSC</a>) pilot program has officially launched, powered by <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ripple</a>'s <a href="https://twitter.com/hashtag/XRPL?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRPL</a> technology. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f310.png" alt="🌐" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b1.png" alt="💱" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f929.png" alt="🤩" class="wp-smiley" style="height: 1em; max-height: 1em;"> Anthony Welfare, Ripple's CBDC Strategic Advisor, hails this milestone, emphasizing the… <a href="https://t.co/tpz8sluLv3" rel="noopener noreferrer nofollow">pic.twitter.com/tpz8sluLv3</a></p>— Collin Brown (@CollinBrownXRP) <a href="https://twitter.com/CollinBrownXRP/status/1736276704442699945?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 17, 2023</a>
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<p>The <a href="https://www.palaugov.pw/executive-branch/ministries/finance/" target="_blank" rel="noopener noreferrer nofollow">Palau Ministry of Finance</a> aims to enhance accessibility and user engagement through educational initiatives, emphasizing legal and regulatory compliance. The partnership with Ripple extends beyond technology, encompassing collaborative efforts in marketing, sustainability goals, and environmental initiatives with PalauPledge and Ol’au Palau.</p>
<p>The PSC, pegged 1:1 to the USD, enables offline payments during power outages, revolutionizing financial transactions in Palau. With a focus on creating a robust digital ecosystem, Phase 2 integrates financial institutions, legal frameworks, regulatory bodies, businesses, and users for secure and transparent transactions adhering to global standards.</p>
<p>Leveraging Ripple’s carbon-neutral CBDC platform, Palau demonstrates its commitment to innovation and financial modernization. The <a href="https://cryptonewsland.com/palau-explores-national-dollar-stablecoin-on-ripples-network/" target="_blank" rel="noopener noreferrer nofollow">XRPL-based ecosystem</a> facilitates cost-effective transactions, reduces the carbon footprint, and promotes financial inclusion without requiring traditional bank accounts.</p>
<p>Palau, consisting of 340 islands, faces unique challenges in currency distribution and expensive mobile data. The PSC’s offline payment feature addresses these challenges, ensuring transactions can proceed even during power outages or data loss.</p>
<p>The launch of Phase 2 signifies Palau’s dedication to shaping a digitally empowered future, reinforcing its position at the forefront of blockchain-based financial innovations. The PSC initiative showcases the nation’s resolve to overcome geographical hurdles and embrace cutting-edge solutions for financial accessibility and inclusion.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/ripples-xrp-ledger-ushers-in-new-age-of-transparency-with-palau-stablecoin-tracking/" rel="noopener noreferrer nofollow">Ripple’s XRP Ledger Ushers in New Age of Transparency with Palau Stablecoin Tracking</a></li>
 <li><a href="https://cryptonewsland.com/ripples-xrp-poised-for-6-price-point-pioneers-first-palau-stablecoin/" rel="noopener noreferrer nofollow">Ripple’s XRP: Poised for $6 Price Point,&nbsp; Pioneers First Palau Stablecoin</a></li>
 <li><a href="https://cryptonewsland.com/republic-of-palau-to-create-cbdc-with-ripple/" rel="noopener noreferrer nofollow">Republic of Palau to Create CBDC With Ripple</a></li>
 <li><a href="https://cryptonewsland.com/palau-explores-national-dollar-stablecoin-on-ripples-network/" rel="noopener noreferrer nofollow">Palau Explores National Dollar Stablecoin on Ripple’s Network</a></li>
 <li><a href="https://cryptonewsland.com/weekly-crypto-market-news-round-up-nov-22-to-nov-28/" rel="noopener noreferrer nofollow">Weekly Crypto Market News Round-Up (NOV 22 to NOV 28)</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/palau-launches-phase-2-of-psc-stablecoin-pilot-with-ripples-xrpl-technology/" rel="noopener noreferrer nofollow">Palau Launches Phase 2 of PSC Stablecoin Pilot with Ripple’s XRPL Technology</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Palau Launches Phase 2 of PSC Stablecoin Pilot with Ripple’s XRPL Technology

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