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Jamaica's Central Bank to Pilot CBDC Beginning in May
The Bank of Jamaica will pilot the CBDC in its fintech regulatory sandbox from May to December.
The Bank of Jamaica (BoJ) is planning to pilot its central bank digital currency (CBDC) in May and is working with Ireland-based technology firm eCurrency Mint to support the rollout.
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- According to an announcement shared Tuesday, the BoJ said that “after an extensive procurement process” it had selected eCurrency Mint to support its pilot program.
- Between May and the end of December this year, the Jamaican central bank will pilot the CBDC in the bank’s fintech regulatory sandbox.
- The CBDC is then expected to be officially rolled out nationally in early 2022, and eCurrency Mint will be the provider, said the BoJ.
- As reported by CoinDesk, the government of Jamaica views the accelerated transition to a digital society and economy as vital to economic recovery following the COVID-19 pandemic.
Read more: Jamaica to Pilot CBDC Later This Year
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
