Jamaica named CBDC launch date ️
Jamaica plans to launch a digital currency central bank (CBDC) in 2022. This was announced by the country's Prime Minister Andrew Holness.
"The Bank of Jamaica will issue its own digital Jamaican dollar in 2022 after a successful pilot project in 2021," Holness wrote.
He said it will form the basis for a digital payments architecture and will help "increase access to financial services, increase the speed of transactions while lowering the cost of banking services" for citizens.
What is a central bank digital currency (CBDC)?
Recall that in March 2021, the country's Finance Minister Nigel Clark said that the government believes an accelerated transition to a digital society is vital for economic recovery after the pandemic.
In July, the Central Bank of Jamaica announced a pilot deployment of the CBDC system. The first test participant was the National Commercial Bank.
