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Jamaica, Ireland firm partner to test CBDC project in 2021 Business
The Bank of Jamaica has partnered with an Ireland-based company eCurrency Mint to pilot its central bank digital currency (CBDC) project. The project will commence between May and December of this year.
As reported by CoinGeek in July 2020, the bank was looking for a technology partner to commence its CBDC pilot in 2021. While inviting applications, it touted the potential of the CBDC, claiming it would increase financial inclusion through ‘efficient and secured payments.’
The bank announced in a press release published on March 23, “After an extensive procurement process, eCurrency Mint has chosen to support us in testing the CBDC solution in the Bank’s Fintech Regulatory Sandbox between May and December 2021. eCurrency Mint will also be the provider when the national CBDC roll-out begins in early 2022.” The project will allow the bank to test the CBDC for viability “while ensuring adequate c