DCash, the digital version of the EC dollar, is set to go live in Saint Vincent and The Grenadines by the end of June.
Having recognised the critical task of rebuilding the economy of Saint Vincent and The Grenadines in the wake of the recent volcanic eruptions and the impact of the COVID-19 pandemic, the ECCB is moving expeditiously to bring this safer, faster, and cheaper digital payment option to the citizens and residents.
DCash, which is securely minted and issued by the Eastern Caribbean Central Bank, will contribute to rebuilding SVG, one digital payment at a time. The immediate objective of launching DCash in Saint Vincent and the Grenadines is to allow for the exchange of DCash for physical cash via the DCash Merchant-Teller network. These authorised entities will facilitate DCash to physical cash exchanges, thereby allowing faster, safer and cheaper cross-border person-to-person remittances. Emphasis will also be placed on establishing the DCash merchant network with focus on getting essential service providers DCash-ready. In addition, other DCash users will be able to send funds directly to users in SVG.
Using the DCash Wallet App, users can make in-person or remote transactions to and from other DCash Wallet holders or merchants. The DCash Merchant App allows businesses to manage consumer and business-to-business transactions, vendor payments, e-commerce, and internal cash or DCash management.
DCash has been in public circulation in four of the eight ECCB member countries – Antigua and Barbuda, Grenada, Saint Christopher (St Kitts) and Nevis and Saint Lucia, since 31 March.
For more information visit DCashEC.com.