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Palau partners with Ripple on climate-friendly national digital currency

Published 11/24/2021, 12:54 AM
Updated 11/25/2021, 02:40 AM

Ripple, the digital payment network, has partnered with the Republic of Palau to help the Pacific island nation develop its own digital currency.

The initial focus of the partnership will see the development of a United States dollar-backed digital currency to help facilitate cross-border payments for the nation. The collaboration “could see the implementation of the world’s first government-backed national stablecoin in the first half of 2022,” according to Ripple’s announcement.

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