Nasdaq-listed gaming company Snail Games is exploring the development of a dollar stablecoin, with its stock price rising by 20% at one point

ChainCatcher news, according to Coindesk, Nasdaq-listed game publisher Snail Games (code: SNAL) announced that it is exploring the possibility of issuing a proprietary US dollar stablecoin, evaluating aspects including technology, legal, and financial considerations. To advance this plan, the company has hired AscendEX founder George Cao as an external advisor and has commissioned a law firm specializing in the crypto field to assist with compliance matters.

After the announcement, Snail's stock price rose by as much as 20% during the trading session, ultimately closing up 8%.