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Snail Games Makes a Move into Cryptocurrency with Plans for USD-Backed Stablecoin
In a surprising announcement today, Snail, Inc., a leading global independent developer and publisher of interactive digital entertainment, revealed its intention to explore the possibility of introducing its own proprietary stablecoin. This move is a significant shift for the company, which has traditionally focused on gaming and entertainment.
According to an official statement, Snail Games’ decision to evaluate the feasibility of launching a USD-backed stablecoin is contingent upon multiple factors, including regulatory approvals, market conditions, technical readiness, cybersecurity safeguards, financial controls, and internal governance. The Company believes that by exploring stablecoin infrastructure, it can position itself as an early mover in the digital entertainment industry.
While no concrete timeline or commitment has been made regarding the integration of this technology into its corporate strategy, Snail Games has already begun assessing the potential applications and use cases for a proprietary stablecoin. This initiative is expected to be part of the company’s broader innovation roadmap.
To support this effort, Snail Games has retained Dr. George Cao, an external consultant with extensive experience in computer science and blockchain technology. As the founder and CEO of AscendEX, a full-stack cryptocurrency financial platform, his expertise will undoubtedly play a crucial role in guiding the company’s exploration of a proprietary stablecoin.
Additionally, the company has also engaged seasoned legal advisors from a nationally recognized law firm, which was ranked by Chambers FinTech Legal USA as a leading firm serving cryptocurrency and blockchain clients.
Source: usethebitcoin.com
