Les Palaos arrêtent de manière inattendue le programme pilote de stablecoin basé sur Ripple
Jay Hunter Anson, the director of the Digital Residency Office in Palaus Ministry of Finance, announced the abrupt halt of the Ripple (XRP)-based Palau Stablecoin (PSC) pilot program. Known locally as “Kluk” for its bird insignia, the program aimed to offer a fee-free, secure, and transparent payment option for Palau residents. The U.S. Dollar backed the stablecoin, and has generated significant buzz since its launch in July 2023. Anson took to X, formerly known as Twitter, to make the announcement. He stated that the distribution of PSC would cease on September 8. Moreover, the stablecoin will become worthless for transactions starting September 15. The news has puzzled cryptocurrency enthusiasts and Palau citizens, as the program was initially met with considerable enthusiasm. The Republic of Palau had partnered with Ripple to launch the PSC on Ripples Central Bank Digital Currency (CBDC) Platform. Released in May, the platform had already been in discussions with over 20 countries for similar initiatives. Palau and Ripple began their collaboration in 2021, aiming for an initial launch in 2022. However, the launch took place in July 2023, adding another layer of complexity to the sudden termination. Anson did not offer any specific reasons for the abrupt end but mentioned