Trending
Gaming Studio Snail Considers Launching U.S. Dollar Stablecoin

Snail Games Explores Launch of U.S. Dollar-Pegged Stablecoin Amid Regulatory Challenges
Snail Games (NASDAQ: SNAL), a publicly traded video game developer, announced on Tuesday that it is considering the creation of its own U.S. dollar-pegged stablecoin. The company is currently evaluating the technical, legal, and financial complexities involved in issuing a proprietary stablecoin, according to an official press release.
To advance this exploratory initiative, Snail has appointed George Cao, founder of the cryptocurrency exchange AscendEX, as an external consultant. Additionally, the company has retained a law firm specializing in cryptocurrency regulation to help navigate the intricate compliance landscape. While no definitive timeline has been established, Snail emphasized that the project remains in the assessment phase. The announcement, however, generated notable investor enthusiasm, with Snail’s stock price rising as much as 20% during the trading session before closing 8% higher.
Co-CEO Hai Shi described the stablecoin exploration as a natural extension of the company’s innovation-driven strategy. He stated that the initiative aligns with Snail’s broader objective to leverage blockchain technologies in its pursuit of digital transformation within the entertainment sector.
Stablecoin Potential and Regulatory Hurdles
Stablecoins, cryptocurrencies pegged to fiat currencies such as the U.S. dollar, have gained traction for enabling rapid and cost-effective value transfers over blockchain networks. For Snail, integrating a stablecoin could enhance blockchain-based game economies, facilitate player-driven marketplaces, and enable cross-border monetization, thereby reducing dependence on traditional payment infrastructures.
However, Snail’s potential entry into the stablecoin market coincides with intensified regulatory scrutiny in the United States. The proposed GENIUS Act, which seeks to impose stricter compliance requirements on major stablecoin issuers like Tether, has already led some firms to reconsider their presence in the U.S. market. This evolving regulatory environment presents significant challenges for new entrants such as Snail.
On the international stage, the proliferation of U.S. dollar stablecoins has elicited responses from competitors, particularly in China. Technology giants there are reportedly advocating for the development of yuan-based stablecoins to counterbalance U.S. dominance in this sector. Market reactions to corporate stablecoin initiatives remain mixed; while some companies embrace stablecoins for their efficiency and potential to streamline international payments, others express concerns that U.S. stablecoin policies could destabilize the global payment system.
As Snail continues to assess the viability of its stablecoin project, it joins a growing cohort of major banks and retailers—including Walmart and Amazon—exploring blockchain-based payment solutions. The success of these ventures will likely depend on how regulatory frameworks evolve in the coming months.