On July 31, 2024, The Republic of Palau's Ministry of Finance published its 'National Government Payment Service Project: Phase 2a Report'. The report was prepared alongside Ripple's Central Bank Digital Currencies and Central Bank Engagements team. It details the progress made towards establishing a digital payment system designed for all Palauans.
Key points of the report include:
- Technical Infrastructure Assessment: Evaluation of technological requirements necessary for nationwide implementation.
- Strategic Partnerships: Forging alliances to augment trust and reliability in the initiative.
- Risk Management Protocols: Comprehensive strategies formulated to safeguard against potential threats.
- Recommendations for Progressive Deployment: Proposals for phased implementation to ensure affordability and broad accessibility.
For more information, visit the official website of the Palau Stablecoin Program at https://www.palaugov.pw/stablecoin and download the ‘Palau National Payment System 2a Final Report’ (https://www.palaugov.pw/wp-content/uploads/Palau-National-Payment-System-Phase-2a-Final-Report.pdf)
