A bank in St. Lucia is the first to complete a DCash transaction.
According to a release from the Eastern Caribbean Central Bank (ECCB) 1st National Bank is the first financial institution in Saint Lucia to complete the transaction.
Executive Manager for Information Technology of 1st National Bank, Mozel Isaac, conducted the transaction when he purchased a meal at J’s Wrap Citi in Gros Islet using DCash. Following the DCash transaction experience late February, Managing Director of 1st National Bank, Johnathan Johannes said, “1st National Bank is very proud to partner with the ECCB to bring DCash to our valued clients in Saint Lucia. When DCash is publicly launched, our customer base will certainly enjoy the benefits of using DCash, which will include safe and instant transactions like the one conducted at Wrap Citi.”
Saint Lucia is one of the four Eastern Caribbean Central Bank (ECCB) member countries to participate in the ECCB’s digital currency pilot.
DCash is a securely minted digital version of the Eastern Caribbean dollar issued by the ECCB. Consumers can gain access to via the DCash App on their smart devices. Consumers can obtain DCash from their commercial banks, credit unions or other authorised institutions. In addition to the payment functionalities, users of DCash can send money to friends and family who also use the DCash App.
The ECCB congratulates 1st National Bank on joining the increasing list of financial institutions that will be among the first to manage DCash transactions for consumers and businesses within the ECCU.
DCash is presently being tested and evaluated in a closed segment of the pilot with select participants and institutions. DCash will be made available to the public in the four pilot countries of Antigua and Barbuda, Grenada, Saint Christopher (St Kitts) and Nevis and Saint Lucia at the end of 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.