All by tag: Jamaica

Central bank digital currency Jam-Dex will be launched by the end of June

The first 100 000 citizens to use Jam-Dex currency will receive a 16 Jamaican dollars deposit in their wallet

Prime Minister Andrew Holness has predicted that in five years three out of four Jamaicans will be using the nation’s digital currency

The island’s national digital currency may appear as early as this year

He noted the advantages of using CBDC, including the reduced banking costs and inclusiveness

The regulator plans to begin the nationwide implementation of the system in the first quarter of 2022