Nasdaq-listed gaming company Snail Games is exploring the development of a US dollar stablecoin, and its stock price once rose by 20%

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According to ChainCatcher and Coindesk, Nasdaq-listed game publisher Snail Games (ticker: SNAL) announced that it is exploring the possibility of issuing a dedicated US dollar stablecoin, with the assessment covering technical, legal, and financial aspects. To advance this plan, the company has hired George Cao, founder of AscendEX, as an external advisor and commissioned a law firm specializing in the crypto field to assist with compliance matters.

After the news was announced, Snail's stock price rose by 20% intraday and ultimately closed up 8%.

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