TechFlow news: After launching a pilot in August, Palau is ending its dollar-pegged stablecoin project. Jay Hunter, a member of Palau's Ministry of Finance and head of its digital residency program, announced on X (formerly Twitter) that the government will cease distribution of the Palau Stablecoin (PSC) on September 8.
Hunter stated that after distribution ends, the PSC will be frozen after September 15, and users will no longer be able to spend it. He noted: "After September 15, you will no longer be able to use PSC. This will give us time to process retailer redemptions before the pilot officially concludes at the end of the month."
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