Jamaica’s central bank digital currency and the problems it hopes to solve

Jamaica’s central bank digital currency and the problems it hopes to solve

Jamaica’s new central bank digital currency, slated for launch early this year, aims to help address economic issues on the island nation. The Central Bank of Jamacia recently announced that it would be launching its central bank digital currency (CBDC), dubbed the Jamaican Digital Exchange, or Jam-Dex, in the first quarter of 2022. According to the Jamaican government, the national digital currency will help to lower transaction costs while allowing the unbanked to access financial services.It is estimated that over 17% of Jamaicans are unbanked, but it is feared that many more are....


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