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The Eastern Caribbean Central Bank (ECCB), in collaboration with the Organisation of Eastern Caribbean States (OECS) Commission, The World Bank, and the University of the West Indies (UWI), will host the 5th Growth and Resilience Dialogue with Social Partners on 14-15 April 2021 as a virtual event.
The annual Growth and Resilience Dialogue is designed to address issues that affect the lives of the people within the Eastern Caribbean Currency Union (ECCU). The forum provides a unique opportunity for civil and social partners to interact with the ECCB Monetary Council on multiple matters including growth, competitiveness and employment.
St Kitts and Nevis Keeps its Digital Transformation Promise by Launching Digital Currency prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
The so-called DCash is being initially rolled out in four of the eight member countries of the Eastern Caribbean Currency Union, according to Bitt, the Barbados-based firm that led its development. The pilot includes Antigua and Barbuda, Grenada, Saint Kitts and Nevis, and Saint Lucia.
Large central banks across the world are stepping up efforts to develop digital currencies to modernise financial systems, speed up payments and counter a possible threat from cryptocurrencies.
Still, efforts by major authorities are mostly at the drawing board, with the People s Bank of China s plans the most advanced. The US Federal Reserve has said it is more important to get its approach right rather than leading the pack.
Eastern Caribbean Central Bank s DCash digital currency goes live The ECCB has launched a regional central bank digital currency in partnership with Caribbean fintech outfit Bitt. 3668 Total views News
The Eastern Caribbean Central Bank, the main financial institution of the Eastern Caribbean Currency Union, has launched DCash.
DCash is the digital version of the Eastern Caribbean dollar the official currency of the eight countries in the union.
However, as announced during the launch, DCash is only available in four of the currency union’s member states: Grenada, St. Kitts and Nevis, Antigua and Barbuda, and Saint Lucia.
Wednesday’s launch marked a culmination of the project over two years in development with the ECCB first announcing its plans for a CBDC back in March 2019.
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HAVANA (Reuters) - The Eastern Caribbean on Thursday became the first currency union central bank to issue digital cash, a move that comes as bigger monetary authorities such as the European Central Bank look at issuing their own electronic cash.
Official digital currencies are more “risk-free” than private electronic payment systems as they are backed by the central bank. They also cut out the middle man, reducing the cost of transactions, and make e-payments possible for those without bank accounts.
The so-called DCash is being initially rolled out in four of the eight member countries of the Eastern Caribbean Currency Union, according to Bitt, the Barbados-based firm that led its development. The pilot includes Antigua and Barbuda, Grenada, Saint Kitts and Nevis, and Saint Lucia.