Snail Games Explores Launching USD-Backed Stablecoin Amid Web3 Push

Snail Games (NASDAQ: SNAL), a U.S.-listed video game publisher, announced it is exploring the development of a U.S. dollar-backed stablecoin as part of its broader blockchain strategy. The initiative remains in early stages, with the company assessing the technical, legal, and financial challenges of launching its own proprietary digital dollar token.

To guide the process, Snail has brought on George Cao, founder of crypto exchange AscendEX, as an external advisor. The company also retained a crypto-focused law firm to help navigate regulatory compliance in the evolving U.S. stablecoin landscape.

While no timeline has been finalized, the announcement signals Snail’s intent to align itself with the ongoing digital transformation across gaming and finance. "This stablecoin exploration is a natural evolution of our innovation-led strategy," said co-CEO Hai Shi. He emphasized that blockchain-based technologies could play a central role in Snail’s long-term vision for next-gen entertainment ecosystems.

Stablecoins—cryptocurrencies pegged to fiat currencies like the U.S. dollar—have grown in popularity for enabling fast, low-cost cross-border transactions. With upcoming U.S. legislation set to bring regulatory clarity, more companies, including major retailers and financial institutions, are entering the stablecoin space.

For Snail Games, adopting stablecoins could unlock new possibilities in blockchain gaming, including player-owned digital assets, peer-to-peer marketplaces, and global monetization without reliance on traditional payment networks.

The market responded positively to the announcement, sending SNAL shares up as much as 20% during intraday trading before closing 8% higher.

As stablecoins continue to gain mainstream traction, Snail’s potential entry highlights a growing trend of video game companies integrating Web3 technologies to enhance player experience and expand their digital economies.