Snails (SNAL)A video game studio on the stock market, said on Tuesday that it was thinking about the development of its own stable American dollar.
The company assesses technical, legal and financial obstacles to the publication of a owner stable, according to a press release. To support the effort, Snail kept George Cao, founder of the Crypto Exchange Ascendex, as an external consultant. The company also hired a Crypto -oriented law firm to help meet compliance challenges.
No business calendar has been set and the initiative remains exploratory.
The stock jumped up to 20% on news before losing some of the gains, closing the 8% higher session.
“This exploration of Stablescoin is a natural evolution of our strategy led by innovation and will support a wider effort to assess how technologies based on blockchain could be aligned on the business objective of the company to be at the forefront of digital transformation in the entertainment space,” said HAI Shi Shi Shi Shi Shi Shi Shi Shi in a press release.
Stablecoins are cryptocurrencies fixed to fiduciary currencies such as the US dollar, and are increasingly popular to transfer the value quickly and with fewer intermediaries via blockchain rails. With imminent American regulations in the sector, large banks and large retailers like Walmart and Amazon would explore the issuance of Stablecoins.
For a company like the snail, the integration of stablecoins could open doors to the savings of games based on blockchain, to markets focused on players or with cross -border monetization, without relying on traditional payment rails.
Read more: the “crypto weekend” hits a roadblock while House cancels the makeup vote for crypto bills
