Bank of Jamaica mints the first batch of Jamaica's central bank digital currency
Bank of Jamaica(BOJ) has minted Jamaica’s first central bank digital currency (CBDC).
A total of 230 million dollars in CBDC will be issued to deposit-taking institutions and authorised payment service providers during the CBDC pilot exercise, which ends in December 2021.
BOJ’s CBDC team demonstrated the process of minting digital currency during a ceremony, and the process took place under the eyes of Minister of Finance Nigel Clarke, BOJ Governor Richard Byles, members of BOJ’s senior management team, as well as the management team of technology provider, e currency.
Speaking at the ceremony, the minister promised that the legislative amendment to accompany CBDC would be in place before the end of this fiscal year. Furthermore, Deputy Governor Natalie Haynes advised that the judging process for the recent public contest to propose a name, tagline, logo and image design for Jamaica’s CBDC is complete and that the winners will be notified and announced soon.
0 Comment