Eastern Caribbean Central Bank plans to issue digital currency

posted 3 months ago
The Eastern Caribbean Central Bank is about to conduct a pilot for a blockchain-based central bank digital currency in preparation for its planned full rollout as a legal tender, possibly in 2020. The ECCB signed a deal with Barbados-based fintech firm Bitt to help conduct the pilot.

This CBDC pilot will involve a “securely minted and issued” digital version of the Eastern Caribbean dollar (XCD) & will be distributed for use by financial institutions. The governor of the ECCB, Timothy N. J. Antoine said “...the digital EC Dollar [will] be the world’s first digital legal tender currency to be issued by a central bank on blockchain… It would be a game-changer for the way we do business.”
Tags: blockchain, news