Eastern Caribbean Central Bank (ECCB), regulator for eight island nations of the Caribbean, unveiled its own digital currency DCash.
The ECCB partnered with fintech company Bitt. The regulator plans to integrate DCash into the financial systems of four pilot countries: Saint Kitts and Nevis, Antigua and Barbuda, Grenada, and Saint Lucia.
According to the statement from the central bank, the digital currency will enhance accessibility, competitiveness and resilience of the Eastern Caribbean Currency Union’s financial system.
“From March 31, consumers and merchants can register to use DCash through participating financial institutions or by downloading the DCash app from Google Play or the Apple Store,” the ECCB said.
The Bahamas launched a state digital currency, the Sand Dollar.
In March 2021, Jamaica announced plans to conduct testing of a central bank digital currency in December ahead of a full rollout in 2022.
Earlier, the Bank for International Settlements urged regulators to cooperate on CBDC.