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Prime Minister Harris welcomes ECCB’s launch of blockchain-based digital currency

Prime Minister of St. Kitts and Nevis, Dr. the Honourable Timothy Harris, has welcomed the decision by the Basseterre-based Eastern Caribbean Central Bank (ECCB) to pilot a blockchain-issued Central Bank Digital Currency (CBDC) within the Eastern Caribbean Currency Union (ECCU).A contract between the ECCB and the Barbados-based fintech company, Bitt Inc. (Bitt) was signed on February 21 at the bank’s Headquarters.

The ECCB stated in a press release that the Central Bank Digital Currency pilot “is the first of its kind and will involve a securely minted and issued digital version of the EC dollar (DXCD).”It added, “The digital EC dollar will be distributed and used by Licensed Financial Institutions and Non-Bank Financial Institutions.

 

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