The Minted Digital Version of the Eastern Caribbean Dollar Issued by the Eastern Caribbean Central Bank to be Available in Montserrat this September

Photo Credit: ECCB Website

Come September this year, the digital dollar is expected to be available in Montserrat.

The announcement has been made by new Chairman of the Eastern Caribbean Currency Union (ECCU) and Montserrat’s Premier, Honourable Joseph Farrell.

Premier Farrell says DCash, which is an Eastern Caribbean Central Bank project, is to be rolled out to all members of the currency union over the next two months.

In his acceptance statement as the new Chairman last Friday, Premier Farrell commended Governor of the Eastern Caribbean Central Bank (ECCB), Timothy J. Antoine and his team on what he said was the “historic achievement of launching the digital currency, DCash.

Following a successful launch of the pilot in four of the eight OECS member states earlier this year, Premier Farrell said he is pleased to note that DCash will be rolled out in the remaining four territories, including Montserrat, by September of this year.

This innovation, he asserts, facilitates cross-border payments within the ECCU and opens up more opportunities for e-commerce.

The first DCash transaction was completed in St. Lucia in March this year. It was also being piloted in Antigua/Barbuda, Grenada and St. Kitts and Nevis.

DCash is a securely minted digital version of the Eastern Caribbean dollar issued by the ECCB.

Consumers would be able to gain access via the DCash App on their smart devices.

They could also obtain DCash from their commercial banks, credit unions or other authorized institutions.

In addition to the payment functionalities, users of DCash could send money to friends and family who also use the DCash App.