In 2019, the Eastern Caribbean Central Bank (ECCB) and fintech company Bitt Inc signed a contract to conduct a blockchain-issued Central Bank Digital Currency (CBDC) pilot project under the Eastern Caribbean Currency Union (ECCU).
The developed digital currency is open for use on the islands of Antigua and Barbuda, Grenada, Saint Kitts, Nevis, and Saint Lucia. Buyers and sellers can register to use DCash through participating financial institutions or by downloading the DCash app from Google Play or the Apple Store.
DCash is a digital version of the East Caribbean dollar issued by ECCB. It is considered a safer and faster option to pay for goods and services, as well as send funds to other DCash holders.
The Eastern Caribbean Central Bank intends to expand opportunities for financial growth, sustainability, and competitiveness. The DCash project will be able to address recurring problems as well as reduce trade bottlenecks between the islands.
DCash does not require a bank account, minimum spending, or minimum balance.
Source: financefeeds
