[Business Insider] eCurrency providing technology for National Rollout of CBDC in Jamaica
eCurrency has entered into a long-term partnership with Bank of Jamaica to provide technology services for the national rollout of its Central Bank Digital Currency (CBDC) - JAM-DEX.
Jamaica became the first country to recognize its CBDC as legal tender. In June 2022, the Jamaican Parliament passed amendments to the Bank of Jamaica Act and subsequently Bank of Jamaica (Amendment) Act 2022 (Act 5 of 2022) was duly assented by the Governor General to accommodate the Bank as the sole issuer of CBDC and strengthening its anti-counterfeiting laws.
The Bank of Jamaica now mints, issues, distributes and redeems CBDC in Jamaica. The Bank announced the national rollout after a successful CBDC pilot last year with eCurrency.