![]() ![]() ![]() All buying, selling, and crypto asset investment activities are the responsibility of the reader. Always conduct independent research and use discretionary funds before investing. This content aims to enrich readers with information. XRP/USDT one-day price chart Binance XRP price is currently above three long-term 10, 50 and 200-day Exponential Moving Averages (EMAs)at 0.4894, 0.4658 and 0.4407, respectively. By sponsoring this project, they aim to reduce payment costs and improve access to financial services, particularly for underserved communities and different socio-economic groups, through the use of digital solutions. The stablecoin project was initiated by the Ministry of Finance in Palau to address specific financial needs within the nation. ( 09-08) Binance Adds BAND, FLM, STMX on Cross Margin & New ADX, PROM, PROS Isolated Margin Pairs. So, people think suspending the program in September may not provide sufficient data and experience to make informed decisions for future developments. Binance Upgrades Options Market Maker Program () ( 09-08) Binance NFT: Important Updates on The Sandbox NFT Staking Program and Polygon Network Support. Recall that the stablecoin project was launched in July. In the post, Hunter also pinpointed the viability of the XRPL technology as a stablecoin platform.ĭespite the clarity, some users still believe that the testing span is too short. This truly is a testament to the technical skills and expertise at Ripple.” He said the project is now set for the next phase.Īcknowledging Ripple’s capability, he wrote, “Picking the right industry partner and platform is crucial. In a follow-up update on X, Jay Hunter, the leader of the digital residency program, shared the reason for the suspension.Īccording to Hunter, the goals and objectives of the pilot program have been accomplished. Clarity on Why Palau Stablecoin (PSC) Was Halted Since the project is backed by Ripple and built on top of XRP Ledger (XRPL), members of the community were relentlessly waiting to witness the success of the nascent project. The one-week interval is meant to give room for retailer redemptions before official termination.Īs the major reason for this significant action was not clearly stated in the announcement, it gave room for speculation and concern within the XRP community. In the report, it’s stated that the issuance of the Stablecoin will stop on the 8th of September, while it’s scheduled to become unspendable for users from September 15. What brought about the concern was the fact that the announcement came with little clarification about the reason for the sudden suspension. Recall that the report about the suspension of minting and distribution of Palau Stablecoin became a top topic on various crypto news outlets. Binance, the worlds largest cryptocurrency. The latest update has explained the reason behind the suspension of the Palau Stablecoin (PSC) that was released a few months ago. Binance is a leading crypto exchange with 500+ coins supported.
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