Palau’s Ripple-backed stablecoin pilot audit process is advancing, with the Ministry of Finance collaborating with auditors and turning in more than 200 documents for review. Jay Hunter Anson, a Palau Ministry of Finance member, explained he was ready to show auditors that every transaction can be traced thanks to the public ledger tech.
Palau’s Ministry Of Finance Advances Stablecoin Audit Process
The audit process on Palau’s stablecoin (PSC) pilot, a project that uses Ripple’s xrpl ledger to issue a dollar-backed stablecoin as a central bank digital currency (CBDC), is advancing, as the Ministry of Finance collaborates with the government auditors.
Jay Hunter Anson, a member of the Ministry of Finance, offered an update about how blockchain technology would help in the process due to the traceability of each transaction.
In a post on social media, Hunter Ansen stated:
In-brief with auditor complete. 202 documents printed and will be submitted for review. Ready to walk the aud
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