Bank of Jamaica

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Bank of Jamaica Governor: Cryptocurrency ‘Not Sufficiently Stable to Be a Good Means of Payment’

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The governor of the Jamaican central bank has warned people using or who have plans to use cryptocurrencies to be mindful of the associated risks. The governor added that cryptocurrencies’ unpredictability means they cannot function as a medium of exchange. Not Stable Enough to Be Good Means of Payment The governor of the Bank of … Read more

‘Bank of Jamaica Will Roll Out Digital Jamaican Dollar in 2022,’ Says Prime Minister

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According to an announcement from Jamaica’s Prime Minister Andrew Holness the Bank of Jamaica plans to “roll out” its central bank digital currency (CBDC) after the country’s successful pilot last year. Jamaica’s CBDC Is Due to Launch This Year Jamaica, the island country situated in the Caribbean Sea is planning to launch its CBDC this … Read more

Jamaican Central Bank Says It Has ‘Successfully Completed CBDC Pilot’

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The Jamaican central bank successfully completed the pilot testing of its central bank digital currency, a statement from the bank has said. The statement however reveals that only one payment service provider participated in the pilot. Only One Payment Provider Participated in the Pilot The Bank of Jamaica (BOJ) recently revealed that it had successfully … Read more

Jamaica Plans to Pilot a Central Bank Crypto, CBDC to Work Alongside Notes and Coinage

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While a number of countries are working on central bank digital currencies (CBDCs), on Tuesday, the Bank of Jamaica (BoJ) announced it will soon be piloting a CBDC project. The BoJ is working with a firm called Ecurrency Mint Incorporated and plans to pilot the cryptocurrency in May. Jamaican CBDC to Pilot this May Jamaica, … Read more