Gaming Studio Snail (Snal) explores the development of a US dollar stablecoin


Snail games (Snal)A publicly quoted video game studio said Tuesday that he is reflecting to the development of his own American dollar stable.

The company is evaluating the technical, legal and financial obstacles to issue a patented Stablin, according to a press release. To support the effort, Snail retained George Cao, founder of Crypto Exchange Ascex, as an external consultant. The company has also hired a cryptographic law firm to help navigate compliance challenges.

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A firm timeline has not been established, and the initiative remains exploratory.

The action rose 20% in the news before throwing some of the profits, closing the session 8% higher.

“This stablecoin exploration is a natural evolution of our strategy led by innovation and will support a broader effort to evaluate how blockchain-based technologies could align with the company’s long-term objective to be at the forefront of digital transformation in the entertainment space,” said Co-Coe Hai Shi in a statement.

The stable are cryptocurrencies linked to fiduciary currencies such as the US dollar, and are increasingly popular to transfer value quickly and with less intermediaries through blockchain rails. With the imminent American regulation of the sector, it is said that the main banks and large retailers such as Walmart and Amazon explore the broadcast of Stablecoins.

For a company such as Snail, the integration of Stablecoins could open doors to blockchain -based games economies, markets promoted by players or cross -border monetization, without relying on traditional payment rails.

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