Gaming Studio Snail Explores Developing U.S. Dollar Stablecoin

Snail Games (SNAL), a publicly-traded video game studio, said on Tuesday that it is mulling the development of its own U.S. dollar stablecoin.

The company is evaluating the technical, legal, and financial hurdles to issuing a proprietary stablecoin, according to a press release. To support the effort, Snail retained George Cao, founder of the crypto exchange AscendEX, as an external consultant. The company has also engaged a crypto-focused law firm to help navigate compliance challenges.

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