Snail establishes Snail Coins wholly-owned subsidiary

Snail (SNAL) provided an update on its recently announced stablecoin initiative, establishing Snail Coins, a wholly owned subsidiary of the Company, to serve as the dedicated entity responsible for the issuance, management, and operations of its proprietary USD-backed stablecoin project and other broader digital asset management initiatives.”With the GENIUS Act signed into law, we believe the regulatory landscape is beginning to align with the pace of innovation in digital finance,” said Snail co-CEO Hai Shi. “The timing of this development couldn’t be more aligned with our own efforts, as we now establish a dedicated subsidiary for our stablecoin and our broader digital asset management initiatives. We view the formation of Snail Coins as more than a corporate structuring move – it’s the beginning of a strategic commitment to the integrity, success, and vision of the project.”