Three Caribbean central banks announce new CBDC projects

Digital currency

Three Caribbean central banks have announced plans to introduce or expand experimental retail central bank digital currency (CBDC) programmes in the coming months.

Jamaica’s central bank announced plans for an experimental CBDC, while that of the Eastern Caribbean Currency Union said it would expand its existing pilot project. The Central Bank of the Bahamas upgraded its “sand dollar”, which some observers describe as the world’s first CBDC to move beyond the experimental phase.

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