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Nasdaq-listed game publisher Snail Games is exploring the development of a USD stablecoin, with its stock price rising over 20% at one point.
Odaily News Snail Games (code: SNAL), a Nasdaq-listed game publisher, announced that it is exploring the possibility of issuing a proprietary US dollar stablecoin, assessing aspects including technology, legal, and financial. To advance this plan, the company has hired AscendEX founder George Cao as an external advisor and has commissioned a law firm specializing in encryption to assist with Compliance matters. After the announcement, Snail's stock price rose by 20% at one point during the trading session, ultimately closing up 8%. (CoinDesk)