The President of the Republic of Palau, Surangel S. Whipps, Jr., said the country’s IT team is working with RippleLabs to explore the creation of a national stablecoin that would allow the country to make local payments easily and securely.
It is reported that in June this year, Surangel S.Whipps, Jr. announced after meeting with the founder of Binance, Zhao Changpeng, that he would issue a digital resident ID card NFT on the BNB Chain through the RNS.ID platform.
The NFT enables users to perform digitally native KYC online and enable access to various services that require a government-issued ID.