St Kitts and Nevis became DCash-ready when the St Kitts Cooperative Credit Union (SKCCU) processed the first DCash consumer-to-merchant transaction.
SKCCU representative, Akilliah Stanley, conducted the transaction at the Bass Bargain Superette in St Peters on 4 March.
Speaking about the transaction, Chief Executive Officer of the SKCCU, Janet Harris said, “The St Kitts Cooperative Credit Union is pleased to be part of this historic, significant, momentous occasion.” She said that it was the natural progression to have a digital EC Dollar and encouraged persons and members of the SKCCU, to get on board.
DCash is a securely minted digital version of the Eastern Caribbean dollar issued by the ECCB. It offers a safer, faster, cheaper alternative for transacting payments and sending funds throughout the Eastern Caribbean Central Bank (ECCB) member countries.
Bass Enterprise is the first DCash-ready merchant in the Federation of St Kitts and Nevis. General Manager, Cheryl Bass said, “It is an extreme pleasure for Bass Enterprise, Bargain Superette in particular, to be part of this historic moment. It is indeed a single honour that we will be able to bring such a service to our customers where there is no longer a need for physical cash, but now we are going the way of digital.”
Chairperson of the ECCB’s Fintech Working Group, Sharmyn Powell, witnessed the transaction and said that the ECCB was pleased to partner with the SKCCU and Bass Superette to have the first DCash transaction conducted in St Kitts. “The DCash project is very important for our region, because at this point in time in our history, we see that digital transformation is a big part of what we are doing.”
Consumers can access DCash via the DCash App on their smart devices. They can obtain DCash from their commercial banks, credit unions or other authorised institutions. DCash is presently being tested and evaluated in a closed segment of the ECCB’s Digital Currency pilot with select participants and institutions. DCash will be made available to the public initially in the four pilot countries of Antigua and Barbuda, Grenada, Saint Christopher (St Kitts) and Nevis and Saint Lucia on 31 March 2021.
For more information about the DCash Pilot, visit: https://eccb-centralbank.org/p/frequently-asked-questions or search for DCashEC on social media.
Source: Eastern Caribbean Central Bank
