Three Caribbean central banks announce new CBDC projects

Three Caribbean central banks have announced plans to introduce or expand experimental retail central bank digital currency (CBDC) programmes in the coming months.

Jamaica’s central bank announced plans for an experimental CBDC and that of the Eastern Caribbean Currency Union said it would expand its existing pilot project.

While the Central Bank of the Bahamas upgraded its “sand dollar”, which some observers describe as the world’s first CBDC to move beyond the experimental phase.