The Governor of the Eastern Caribbean Central Bank (ECCB), Timothy N. J. Antoine says the public roll-out of DCash, the ECCB’s digital currency will commence on 31 March.
In his official announcement, Governor Antoine emphasises that DCash is safer, faster and cheaper and encourages all to get on board. “The future of the EC Dollar is digital, so let’s make history together.”
DCash is a securely minted digital version of the Eastern Caribbean dollar issued by the ECCB.
It is an innovative, real-time payment option available within the Eastern Caribbean Currency Union (ECCU) and offers a safer, faster, cheaper method for making payments and sending/receiving funds to and from other DCash users and merchants.
Consumers can access DCash via the official App, the DCash Wallet, and conduct financial transactions using their smart devices. DCash can be obtained from participating commercial banks, credit unions or other authorised institutions.
The ECCB has partnered with Bitt Inc to develop the digital EC currency. Speaking on the announcement, CEO of Bitt, Brian Popelka, said, “Bitt is very proud to provide the ECCB with our full stack of digital currency management systems to enhance the financial services within their member countries. The past two years of this partnership have developed from intense consultations between the Bitt team and the ECCB to our team supporting the ECCB.”
Consumers can sign up to use DCash either through a participating financial institution or via an authorised DCash agent. The ECCB will roll out DCash initially in Antigua and Barbuda, Grenada, Saint Christopher (St Kitts) and Nevis and Saint Lucia as part of the ECCB’s Digital Currency Pilot.
The DCash pilot aims to create greater financial inclusion in the ECCU as well as increase economic growth and business opportunities.