GOVERNOR of the Eastern Caribbean Central Bank (ECCB), Timothy NJ Antoine, says he is pleased with the performance of DCash, the bank’s digital currency pilot aimed at improving financial inclusion and modernising payment systems.
DCash is a digital version of the Eastern Caribbean (EC) dollar currency and the ECCB is using the latest technology to provide a new payment option to advance financial services within its member countries.
Two years after the pilot was launched, Antoine said that DCash has been recognised globally as a pioneer and a model for retail central bank digital currencies.
The ECCB, which serves as a central bank for the islands of Antigua and Barbuda, Dominica, Grenada, St Lucia, St Vincent and the Grenadines and St Kitts-Nevis, said partnerships with licensed financial institutions and regional businesses and organisations have enabled DCash to expand its reach, enhance platform features, and ensure regional impact.
“It has been a challenging and rewarding journey. I commend all those who have partnered with us along the way,” Antoine said.
“DCash is now in all eight member countries. With the onboarding of our marketing partner and exciting campaigns ahead, we expect DCash to become a household name in our Currency Union,” Antoine said.
“After all, DCash is our home-grown digital currency and it is not a cryptocurrency. It is a faster, safer and cheaper payment instrument,” he added.
—CMC
