Jamaican Central Bank to airdrop the national cryptocurrency for free
The first 100 000 citizens to use Jam-Dex currency will receive a 16 Jamaican dollars deposit in their wallet
11.03.2022 - 09:05
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What’s new? The Central Bank of Jamaica will issue a national digital currency called Jam-Dex in April 2022. Prime Minister Andrew Holness has announced on Facebook that the first 100 000 citizens who use Jam-Dex will each receive 16 Jamaican dollars in their wallets. According to the Jamaica Observer, about 17% of the population does not use banks. The action should encourage low- and middle-income citizens to join the national banking system.
How did Jamaica develop CBDC? At the end of 2021, the country’s Central Bank successfully completed a pilot program to test Jam-Dex. The project was developed jointly with the Irish firm eCurrency Mint and a total of about 6 million digital Jamaican dollars were issued. Jamaican Finance Minister Nigel Clark stated that the national currency should be widely distributed among low-income citizens as well as among small businesses.
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