The Centrale Bank van Curaçao en Sint Maarten (CBCS) and the Barbados-based fintech company Bitt Inc. have signed a memorandum of understanding (MOU) to explore the feasibility of the CBCS issuing a digital Curacao and St Maarten guilder, to facilitate digital financial payments within the monetary union of Curacao and St Maarten.
The parties signed an MOU on August 3, 2018, representing the culmination of talks that began in April 2018 during the CBCS’ second central banking conference. This MOU solidifies the relationship between Bitt and the CBCS, and outlines the basic framework for this collaborative effort, to determine the way forward. “The MOU clears the way for collaboration and information sharing regarding a feasibility study, designed to determine the viability and functionality of using a central bank issued digital guilder within the financial ecosystems of each member, and across both members, of the monetary union,” explained Rawdon Adams, CEO of Bitt Inc.
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