TechFlow news, the Ministry of Finance of Palau has officially launched the second phase of the Palau Stablecoin (PSC) initiative. Palau's cybersecurity advisor Jay Hunter Anson confirmed in a post the launch of the country's CBDC pilot program.
Anson stated that Palau plans to expand its partnership with Ripple in the next phase, enabling the PSC team to leverage Ripple's CBDC platform and technical expertise.
The PSC is a digital currency pegged 1:1 to the U.S. dollar, with dollar-backed PSC reserves held in FDIC-insured commercial banks, and the Palau government issues PSC on the XRP Ledger (XRPL).
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