Eastern Caribbean Central Bank to issue Digital Eastern Caribbean Dollar in partnership with Medici portfolio firm Bitt.
The Caribbean is a region consisting of group of islands and the surrounding coasts in the Caribbean Sea. The Caribbean has a mixed developing economy. depending mainly on agriculture, tourism and natural resources. The first appearance of Bitcoin in the Caribbean was in 2015, when the first Caribbean Bitcoin exchange was founded in order to provide Caribbean citizens easy access to digital assets. This was supposed to solve some of the economic problems of the region due to the service’s law fees for transactions, ability for low cost money transfers and its effective way to keep the value of money. Bitcoin in the Caribbean is the new way to transform the Caribbean’s economy by providing such services where traditional banking is limited.
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