ECCB announces digital currency pilot

digital-chain

The Eastern Caribbean dollar could be the world’s first central bank digital currency (CBDC) if the Eastern Caribbean Central Bank’s pilot goes to plan later this month, according to the institution’s governor.

The ECCB has teamed up with Barbadian financial technology firm Bitt to conduct a blockchain-based CBDC pilot within the Eastern Caribbean Currency Union (ECCU).

“This is not an academic exercise,” said governor Timothy Antoine on March 6. “Not only will the digital EC dollar be the

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