Grenada is one of four countries involved in the ECCB Digital Currency Pilot project.
The other countries are Antigua/Barbuda, St. Lucia and St. Kitts/Nevis.
The ECCBโs Research Officer, in the area of Strategic Planning and Projects Department, Kieran St. Omer says digital currency is a legal tender, digital version of the EC dollar.
The focus will be on an issuance of highly secure digital currencyโฆpayment and transfers within (ECCU) territories , domestic or regional.
Persons will be able to get involved in real-time payment processingโฆwhere there may be no longer need for the use of a bank.
St. Omer says Grenada, Antigua/Barbuda, St. Lucia and St.Kitts/Nevis have been selected based on interest from financial institutions within the region.
She says the ECCB will be developing the actual use of the digital currency over a 6-month period in a controlled environment.
