Blockchain Gaming
Palau Partners with Soramitsu for Blockchain Bond Platform
Wednesday. July 17 at 1:30 AM
1 min. readPalau has enlisted the help of Japanese financial software company Soramitsu to develop a platform for issuing and managing government bonds. The project is set to undergo trials this fiscal year, with a potential full launch next year. This initiative is part of Palau's broader investment in blockchain technology. The contract, reportedly worth 'several hundred million yen,' is significantly cheaper than traditional systems. Japan's government ministries will provide support and guidance for the project. Palau, which uses the US dollar, aims to leverage this platform to access citizens' savings. Additionally, Palau has collaborated with Ripple Labs to create a stablecoin on the XRP Ledger. Soramitsu has been actively involved in various CBDC projects across Asia, including in the Solomon Islands and Cambodia. The company also plans to establish an Asian cross-border payment system and a stablecoin exchange in Japan.