Republic of Palau reports high fulfillment in Ripple-based CBDC pilot Mike Dalton · 3 days ago · 2 minutes checked out
Regardless of small missteps, preliminary research study reveals pledge for the island country’s Ripple-powered CBDC program.
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Upgraded: December 8, 2023 at 9:42 pm
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Palau’s Ministry of Finance launched an in-depth report on the very first stage of its groundbreaking Ripple-based stablecoin program on Dec. 7.
The nation carried out the pilot task with Ripple’s Central Bank Digital Currencies (CBDC) and Central Bank Engagements groups. The program in addition utilized Ripple’s CBDC platform on a technical level.
Palau stated that it released the pilot program in June 2023 and closed the program in September 2023. The program enabled approximately 200 staff member volunteers from Palau’s executive branch of federal government to make buy from regional sellers, though data suggest that just 168 people got involved.
The pilot program saw numerous limitations. No greater than $20,000 worth of digital currency got in flow. Volunteers might not acquire extra digital currency, non-selected users might not get the stablecoin,
