Snail, Inc. Explores USD-Backed Stablecoin for Digital Entertainment

Snail, Inc., a prominent global independent developer and publisher of interactive digital entertainment, has announced its intention to explore the development of a proprietary USD-backed stablecoin. This strategic initiative is part of the company's broader digital asset strategy and aims to position Snail, Inc. as an early mover in the digital entertainment industry. The exploration of this stablecoin infrastructure is subject to various factors, including regulatory approvals, market conditions, technical feasibility, cybersecurity safeguards, financial controls, and internal governance.

The company recognizes the growing potential of crypto-based transactions within the digital entertainment and gaming industry. While no decisions have been made to integrate such technology into the company’s corporate strategy, Snail, Inc. continues to evaluate and explore opportunities as part of its broader innovation roadmap. The initiative includes assessing the feasibility of developing and exploring its stablecoin with multiple external use cases, although there is no current timeline or commitment.

To support this initiative, Snail, Inc. has retained Dr. George Cao, an external consultant with a PhD in Computer Science from the University of Chicago and the Founder and Chief Executive Officer of AscendEX, a full-stack cryptocurrency financial platform. Additionally, the company has engaged a nationally recognized law firm to provide legal guidance and support.

“This stablecoin exploration is a natural evolution of our innovation-led strategy and will support a broader effort to evaluate how blockchain-based technologies could be aligned with the Company’s long-term goal to be at the forefront of digital transformation in the entertainment space,” said Snail, Inc. co-CEO Hai Shi. “To support this initiative, we’ve engaged a nationally recognized law firm and a seasoned strategic advisor to support and guide the successful exploration of this opportunity. We are evaluating potential future phase hiring needs for professionals with specialized experience in blockchain, stablecoins, and digital asset strategy. While our focus continues to remain on gaming across our ARK franchise, indie titles, and other up-and-coming genres, this investigation into the crypto space and evaluation of the feasibility of launching our own stablecoin would mark a key step in advancing our vision of driving innovation across digital entertainment. We’re excited to share continued updates as we reach meaningful milestones in our evaluation.”

Snail, Inc. is a leading global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. The company's forward-looking statements include evaluations and feasibility for the introduction of its own proprietary stablecoin, which will depend on multiple factors, including regulatory considerations, technical readiness, risk assessments, and strategic alignment with Snail’s core business. The company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.