The Eastern Caribbean Central Bank (ECCB), launched its historic ECCB Digital EC (DXCD) Pilot Project on 12 March 2019.
The pilot involves a securely minted and issued digital version of the EC dollar (DXCD). The objective of this pilot project is to assess the potential efficiency and welfare gains that could be achieved: deeper financial inclusion, economic growth, resilience and competitiveness in the ECCU - from the introduction of a digital sovereign currency.
The digital EC dollar will be issued by the ECCB and distributed by licensed bank and non-bank financial institutions in the Eastern Caribbean Currency Union (ECCU). It will be used for financial transactions between consumers and merchants, people-to-people (P2P) transactions, all using smart devices.