Palau will stop distributing the Palau Stablecoin PSC on September 8

ChainCatcher news, Palau is ending its dollar stablecoin project after launching a pilot in August. Jay Hunter, a member of the Palau Ministry of Finance and head of the digital residency program, announced on social media that the government will stop distributing the Palau Stablecoin (PSC) on September 8.

Hunter stated that after the distribution stops, the Palau Stablecoin will also be frozen after September 15, and users will not be able to spend it, adding: "After September 15, you will no longer be able to use PSC. This will give us time to handle retailer redemptions before the pilot officially ends at the end of the month."