Central Bank of Jamaica reports successful digital currency pilot

On January 2nd, the Bank of Jamaica (BOJ) stated that although only one financial institution participated, the trial operation of its central bank digital currency CBDC was a success.

Earlier news, according to official announcements, the Central Bank of Jamaica (BOJ) has cast Jamaica's first batch of central bank digital currencies (CBDC). During the CBDC pilot period that ended in December of this year, a CBDC totaling 230 million Jamaican dollars will be issued to deposit-taking institutions and authorized payment service providers. The Jamaican Central Bank CBDC team demonstrated the casting process of digital currency at the ceremony.