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Snail, Inc., the global independent developer and publisher of interactive digital entertainment, has announced its intention to explore the development of a proprietary USD-backed stablecoin. The company believes that introducing such a coin could position it as an early mover in the digital entertainment industry.
In a press release issued by Chainwire, Snail’s co-CEO Hai Shi emphasized that the evaluation and feasibility assessment for this initiative will depend on various factors, including regulatory approvals, market conditions, technical feasibility, cybersecurity safeguards, financial controls, and internal governance. It is uncertain whether Snail Games will ultimately decide to launch its own stablecoin or abandon the initiative.
The company has hired Dr. George Cao, a renowned expert in blockchain technology and CEO of AscendEX, as an external consultant to support this exploration. Additionally, Snail has retained the services of a highly respected law firm specializing in cryptocurrency and blockchain matters.
According to Shi, the evaluation of stablecoin infrastructure aligns with the company’s ongoing commitment to innovation across its global portfolio. The initiative aims to foster creativity and innovation within the digital entertainment industry.
Source: usethebitcoin.com
