London Daily

Focus on the big picture.
Thursday, Sep 11, 2025

Jamaica digital currency due for national roll-out in coming months - central bank

Jamaica digital currency due for national roll-out in coming months - central bank

Jamaica will roll out its digital currency across the country in the first quarter of this year as part of an effort to lower transaction costs and provide financial services to citizens who do not use banks, a central bank official told Reuters.
The Bank of Jamaica said in December that it completed a pilot project that issued 230 million Jamaican dollars (US$1.5 million) of the new currency, an effort that comes on the heels of a similar project launched by a group of Eastern Caribbean nations.

"The majority of Jamaicans are financially excluded," Natalie Haynes, a deputy governor with Bank of Jamaica for banking and currency operations and financial markets infrastructure, told Reuters in an interview late last week.

"To get those persons into the formal financial system, we decided that the central bank digital currency would be a good opportunity."

Haynes said the bank hopes to replace 5% of Jamaican dollars with the new digital currency each year.

Five million Jamaican dollars ($38,000) was issued to Jamaica's National Commercial Bank, a private financial institution, and JMD $1 million ($6,000) to Bank of Jamaica employees.

NCB signed up 57 customers to use the new currency, the Bank of Jamaica said.

"It's a different way to pay and allows for easy peer-to-peer transactions," said John-Matthew Sinclair, chief product officer for TFOB (2021), an NCB subsidiary.

Customers sign up for a digital wallet, where they can deposit funds in exchange for digital currency that can then be used in transactions.

Jamaica's digital currency follows a similar program by a group of Eastern Caribbean nations launched last year called DCash.

Antigua and Barbuda, Grenada, Saint Kitts and Nevis, Saint Lucia and Saint Vincent are now using DCash. In 2020, Bahamas was the first country in the region to issue digital currency.

($1 = 155.8900 Jamaican dollars)
Comments

Oh ya 4 year ago
Yup sign up for that and you will soon see who really controls your life. You will do as the government says or you will find out you can not access your money. Unbelievable how stupid people are. A good example is 2 weeks to flatten the curve to what we have now 3 or 4 shots, electronic passports, lockdowns and endless lies

Newsletter

Related Articles

0:00
0:00
Close
ChatGPT CEO signals policy to alert authorities over suicidal youth after teen’s death
The British legal mafia hit back: Banksy mural of judge beating protester is scrubbed from London court
Surpassing Musk: Larry Ellison becomes the richest man in the world
Embarrassment for Starmer: He fired the ambassador photographed on Epstein’s 'pedophile island'
Manhunt after 'skilled sniper' shot Charlie Kirk. Footage: Suspect running on rooftop during panic
Effective Protest Results: Nepal’s Prime Minister Resigns as Youth-Led Unrest Shakes the Nation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
King Charles and Prince Harry Share First In-Person Moment in 19 Months
Starmer Establishes Economic ‘Budget Board’ to Centralise Policy and Rebuild Business Trust
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Brazilian police say ex-President Bolsonaro had planned to flee to Argentina seeking asylum
Trinidad Leader Applauds U.S. Naval Strike and Advocates Forceful Action Against Traffickers
Kim Jong Un Oversees Final Test of New High-Thrust Solid-Fuel Rocket Engine
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Supreme Court temporarily allows Trump to pause billions in foreign aid
Charlie Sheen says his father, Martin Sheen, turned him in to the police: 'The greatest betrayal possible'
Vatican hosts first Catholic LGBTQ pilgrimage
Apple Unveils iPhone 17 Series, iPhone Air, Apple Watch 11 and More at 'Awe Dropping' Event
Pig Heads Left Outside Multiple Paris Mosques in Outrage-Inducing Acts
Nvidia’s ‘Wow’ Factor Is Fading. The AI chip giant used to beat Wall Street expectations for earnings by a substantial margin. That trajectory is coming down to earth.
France joins Eurozone’s ‘periphery’ as turmoil deepens, say investors
On the Anniversary of Queen Elizabeth’s Death: Prince Harry Returns to Britain
France Faces New Political Crisis, again, as Prime Minister Bayrou Pushed Out
Murdoch Family Finalises $3.3 Billion Succession Pact, Ensuring Eldest Son’s Leadership
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Court Staff Cover Up Banksy Image of Judge Beating a Protester
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Nayib Bukele Points Out Belgian Hypocrisy as Brussels Considers Sending Army into the Streets
Elon Musk Poised to Become First Trillionaire Under Ambitious Tesla Pay Plan
France, at an Impasse, Heads Toward Another Government Collapse
Burning the Minister’s House Helped Protesters to Win Justice: Prabowo Fires Finance Minister in Wake of Indonesia Protests
Brazil Braces for Fallout from Bolsonaro Trial by corrupted judge
The Country That Got Too Rich? Public Spending Dominates Norway Election
Nearly 40 Years Later: Nike Changes the Legendary Slogan Just Do It
Generations Born After 1939 Unlikely to Reach Age One Hundred, New Study Finds
End to a four-year manhunt in New Zealand: the father who abducted his children to the forests was killed, the three siblings were found
Germany Suspends Debt Rules, Funnels €500 Billion Toward Military and Proxy War Strategy
EU Prepares for War
BMW Eyes Growth in China with New All‑Electric Neue Klasse Lineup
Trump Threatens Retaliatory Tariffs After EU Imposes €2.95 Billion Fine on Google
Tesla Board Proposes Unprecedented One-Trillion-Dollar Performance Package for Elon Musk
US Justice Department Launches Criminal Mortgage-Fraud Probe into Federal Reserve Governor Lisa Cook
Escalating Drug Trafficking and Violence in Latin America: A Growing Crisis
US and Taiwanese Defence Officials Held Secret Talks in Alaska
Report: Secret SEAL Team 6 Mission in North Korea Ordered by Trump in 2019 Ended in Failure
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Florida Murder Case: The Adelson Family, the Killing of Dan Markel, and the Trial of Donna Adelson
×