Jamaica Prime Minister: Central Bank of Jamaica to Launch Digital Currency in 2022

The Bank of Jamaica will launch its digital currency soon this year. Prime Minister Andrew Holness of Jamaica said the new scheme would serve the country's digital payments infrastructure and facilitate further initiatives such as financial inclusion, faster transactions and lower banking costs for citizens. Holness revealed the news, along with several other upcoming plans, on Twitter. "Following a successful pilot in 2021, Bank of Jamaica will launch our own digital Jamaican dollar in 2022." It is reported that in December 2021, Bank of Jamaica said it had successfully completed a pilot project to issue 230 million digital Jamaican dollars.