Following last month’s report about an August launch date for a digital Jamaican dollar pilot, the Bank of Jamaica (BoJ) minted the country’s first batch of central bank digital currency (CBDC) yesterday.
For the purposes of this test, the Bank of Jamaica is prioritizing broad dissemination of the digital currency. According to the central bank announcement, the CBDC is being issued to deposit-taking institutions and authorized payment service providers.
The initial pilot started with the minting of 230 million Jamaican dollars ($1.5m), with the BoJ expecting to onboard additional banks between September and December.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
