The Republic of Palau has successfully completed the first phase of its stablecoin pilot, using Ripple Ledger technology.

The pilot began in June 2023 with 200 volunteers, focusing on digital payments using the Palau stablecoin (PSC).

Over 700 transactions were conducted during the pilot, with more than 400 being payments to retail merchants.

The Ministry of Finance (MOF) of Palau aims to implement the PSC nationally as a convenient and cost-effective payment method.