Updated: 29 Apr 2021, 12:06
A CARIBBEAN island could become the first place in the world to use Bitcoin instead of money.
Luxury home owners on Bequia will be able to use the digital cryptocurrency to do their grocery shopping or buy a coffee, developers say.
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Luxury home owners will be able to use crytopcurrency to buy groceries or a cinema ticketCredit: Reuters
A small number of shops around the world already accept Bitcoin as payment and a few houses have been sold using it in the UK.
But planners say their new development on paradise isle Bequia will be the world s first fully Bitcoin-enabled community .
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The Eastern Caribbean Central Bank (ECCB) advises that effective 1 April 2021, the Royal Bank of Canada’s (RBC) operations in Antigua and Barbuda, the Commonwealth of Dominica, Montserrat, Saint Christopher (St Kitts) and Nevis and Saint Lucia have ceased, having been acquired by a consortium of national banks.
The Consortium of banks comprises: Antigua Commercial Bank Limited (ACB), National Bank of Dominica Limited (NBD), Bank of Montserrat Limited (BOM), The Bank of Nevis Limited (BON) and 1st National Bank St Lucia Limited (1st National).
As part of this transaction, the Consortium has also acquired the RBTT Bank Caribbean Limited in Saint Vincent and the Grenadines and majority shareholding in RBTT Bank Grenada Limited and RBTT Bank (SKN) Limited.