While most of the big jurisdictions are still toying with the idea of central bank digital currencies (CBDCs), the Bank of Jamaica (BoJ) is ploughing ahead having delivered its first batch of its CBDC to deposit takers and payment services providers in a pilot exercise.
On August 9, the BoJ said it minted a total of J$230m ($1.5m) of its CBDC, which were distributed to authorised institutions as part of a pilot exercise that runs until December. The pilot was originally scheduled for May with no reasons given for the delay.
