Central Bank Digital Currency Initiative: Eastern Caribbean Central Bank

Sharmyn Powell, chief risk officer, ECCB

Central bank digital currency (CBDC) was the buzzword for 2020. Despite the pandemic, news websites were littered with announcements of new research and pilots as the world’s central banks embarked on exploring CBDC’s in more detail.

While in some jurisdictions motivations are firmly rooted in a decline in cash usage, others are taking a different approach and considering CBDCs from the standpoint of increasing financial inclusion and payment

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