Palau Finishes Distribution Phase of Stablecoin Pilot, Organizes Feedback Survey

Palau is preparing to adjacent the organisation signifier of its stablecoin aviator aft having extended it for 30 further days to analyse further usage cases and increasing fashionable demand. Palau Ministry of Finance committee subordinate Jay Hunter Anson explained that the aviator was a “temporary, probe and improvement pilot,” and that the entity volition present compile information to present a study to the government.

Palau Concludes Stablecoin Pilot Distribution Phase

Palau has informed astir the completion of the organisation signifier of its archetypal stablecoin pilot, prompting users to walk their Palau Stablecoins (PSC) earlier September 15, erstwhile they volition beryllium frozen. Jay Hunter Anson, a committee subordinate of Palau’s Ministry of Finance, thanked the participants successful this archetypal signifier and explained the steps the enactment volition follow.

The aviator volition officially reason astatine the extremity of the month, and the past 15 days of September volition beryllium dedicated to moving with merchants arsenic portion of the aviator to signifier redemptions of the collected tokens.

Hunter Anson elaborate that the pilot, which was primitively scheduled for 60 days, was extended for 30 days much to analyse caller usage cases owed to fashionable demand. However, helium stressed that the inaugural was a “temporary, probe and improvement pilot,” and that they volition present compile a study to beryllium delivered to the authorities leadership, that volition see “recommendations for the adjacent aviator and besides requirements for a afloat accumulation program.”

Hunter Anson explained that a survey volition beryllium sent to task participants, stating:

Next week we volition nonstop a survey to everyone who participated successful the pilot. Please implicit the survey arsenic soon arsenic possible. Your feedback is captious to processing our last study to the Olbiil Era Kelulau and the President.

Next Steps

Hunter Anson stressed that the authorities was looking guardant to continuing its concern with Ripple to refine its stablecoin’s design. The aviator included the information of astir 200 authorities employees and section merchants successful Palau and utilized Ripple’s Central Bank Digital Currency (CBDC) level to contented PSC connected apical of the XRP Ledger.

While determination is inactive nary accusation connected the continuation of the project, Hunter Anson shared a timeline that hinted astatine a imaginable 2nd aviator slated for November 2023, aligned with the vacation season. In different post, helium detailed:

If we are authorized to determination guardant with the adjacent signifier of the stablecoin program, our corporate lessons learned volition signifier the mode ahead.

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