Snail, Inc. Announces Intent to Explore Proprietary USD-Backed Stablecoin

Rhea-AI Summary

Snail Inc. (NASDAQ: SNAL), a global interactive digital entertainment developer, has announced plans to explore launching its own USD-backed stablecoin. The initiative is subject to regulatory approvals, market conditions, technical feasibility, and other factors.

To support this exploration, the company has engaged Dr. George Cao, founder and CEO of AscendEX, as an external consultant, along with a nationally recognized law firm specializing in cryptocurrency and blockchain. The company views this initiative as part of its broader innovation strategy in digital entertainment, though no formal decisions or timelines have been established.

Positive

• Strategic positioning as an early mover in gaming industry's crypto integration
• Engagement of qualified experts including AscendEX CEO and top-ranked legal advisors
• Potential for expanded digital transaction capabilities in gaming ecosystem

Negative

• No concrete timeline or commitment to implementation
• Multiple regulatory and technical hurdles to overcome
• Significant resource investment required with uncertain outcome

CULVER CITY, Calif., July 15, 2025 (GLOBE NEWSWIRE) -- Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, announced its intention to explore pursuing a strategic digital asset initiative that includes the evaluation and feasibility for introduction of its own proprietary stablecoin. This initiative would be subject to a range of factors, including but not limited to, regulatory approvals, market conditions, technical feasibility, cybersecurity safeguards, financial controls, and internal governance. The Company believes that exploring stablecoin infrastructure may position it as an early mover within the digital entertainment industry. While no decisions have been made to integrate such technology into the Company’s corporate strategy, it continues to evaluate and explore opportunities as part of its broader innovation roadmap.

Recognizing the growing potential of crypto-based transactions in the digital entertainment and gaming industry, the Company is currently assessing the feasibility of developing and exploring its stablecoin with multiple external use cases, with no current timeline or commitment.

To support this initiative, Snail Games has retained Dr. George Cao, an external consultant. Dr. Cao earned his PhD degree in Computer Science from the University of Chicago and is the Founder and the Chief Executive Officer of AscendEX, a full-stack cryptocurrency financial platform that offers simple solutions for investing, trading, and earning to global users. In addition, the Company also retained seasoned legal advisors, including a nationally recognized law firm ranked by Chambers FinTech Legal USA as a leading firm serving cryptocurrency and blockchain clients.

“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.”

About Snail, Inc.
Snail, Inc. (Nasdaq: SNAL) 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. For more information, please visit: https://snail.com/.

Forward-Looking Statements

This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as "anticipate," "believe," "could," "expect," "should," "plan," "intend," "may," "predict," "continue," "estimate" and "potential," or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and in our public filings with the SEC and include, but are not limited to, statements regarding (i) the evaluation and feasibility for introduction of Snail’s own proprietary stablecoin and any future implementation, which will depend on multiple factors, including regulatory considerations, technical readiness, risk assessments and strategic alignment with Snail’s core business, (ii) Snail as a pioneer among public companies within the digital entertainment industry to integrate stablecoin infrastructure directly into its corporate strategy, (iii) Snail showcasing its ongoing commitment to fostering creativity and innovation across its global portfolio, (iv) Snail’s long-term investment in the next generation of gamers and creators, and (v) Gen Alpha projected to become the most digitally fluent and commercially influential generation to date. You should carefully consider the risks and uncertainties described in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed by the Company with the SEC on March 26, 2025 and other documents filed by the Company from time to time with the SEC, including the Company's Forms 10-Q filed with the SEC. 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.

Disclaimer:

This press release does not constitute an offer, sale or solicitation of an offer to buy any digital asset or security. The Company has not committed to a specific launch timeline or use case deployment. Any future implementation will depend on multiple factors, including regulatory considerations, technical readiness, risk assessments and strategic alignment with Snail’s core business. Snail may determine at any time to abandon its current intent to explore the issuance of A proprietary US dollar-backed stablecoin.

Investor Contact:
John Yi and Steven Shinmachi
Gateway Group, Inc.
949-574-3860 
SNAL@gateway-grp.com

FAQ

What type of stablecoin is Snail Inc (SNAL) planning to launch?

Snail Inc is exploring the possibility of launching a USD-backed stablecoin, though no final decisions have been made regarding implementation.

Who are the key advisors for Snail Inc's (SNAL) stablecoin initiative?

Snail has retained Dr. George Cao, CEO of AscendEX, as consultant and engaged a nationally recognized law firm ranked by Chambers FinTech Legal USA for cryptocurrency expertise.

What is the timeline for Snail Inc's (SNAL) stablecoin launch?

The company has not established a specific timeline for the stablecoin launch, as the initiative is still in the exploration and evaluation phase.

How will the stablecoin integration affect Snail Inc's (SNAL) gaming business?

While Snail Inc continues to focus on its ARK franchise and indie titles, the stablecoin initiative is part of its strategy to drive innovation in digital entertainment, though specific implementation details are not yet determined.

What regulatory approvals does Snail Inc (SNAL) need for its stablecoin?

The initiative is subject to various regulatory approvals, though specific requirements haven't been detailed. The company has engaged legal advisors to guide this process.