ECCB launches DCash in Anguilla

Citizens and Residents of Anguilla now have a Safer, Faster, Cheaper way to transfer funds and process payments, as the DCash Pilot launched there this week.

DCash is the Eastern Caribbean Central Bank's (ECCB's) digital version of the EC currency and is legal tender in all eight ECCB member countries. The DCash Pilot is the ECCB's initiative that affords citizens and residents of the ECCU the opportunity to digitally send and receive EC funds in a matter of seconds, with no transaction fees, using a smart device. The DCash Pilot seeks to advance the ECCB's vision of increasing payment system efficiency, improving financial inclusion, and heightening economic competitiveness and resilience.

"The addition of Anguilla to the DCash ecosystem marks an important milestone in our pilot. The ECCB is deeply committed to shared prosperity for the people we serve," Governor of the ECCB, Timothy N.J. Antoine said, adding: "We believe that to achieve this, we have to transform our region including the way it does business - and building out the digital economy for our Currency Union is a central tenet of our strategy."

Liberty Co-operative Credit Union (LCCU) is the first financial institution in Anguilla to join the Pilot and will begin processing DCash applications for both merchant and consumer wallets for their customers.

"In the true spirit of regional integration and collaboration, Liberty is delighted to partner with the ECCB in the launch of its digital currency in Anguilla," LCCU's Managing Director, L Vanessa Connor said, adding: "The DCash Wallet is a testament to ECCB's commitment to deliver digital payment services of the 21^st Century. No longer will we be playing catch-up on the international stage, as ECCB sets trends and brings modern technological advancements to the people of Anguilla and the wider ECCU region."

Persons who are not customers of LCCU may obtain a DCash value-based wallet by signing up through the app. Advance Caribbean, the DCash Agent in Anguilla, will be providing remote support for customers who sign up for a value-based wallet.

"Advance Caribbean fully supports the ECCB on its mission to increase the opportunities for financial inclusion by providing a low-cost, accessible and efficient form of payment for both local and cross-border transactions," Managing Director of Advance Caribbean (Anguilla) Ltd, Andrew Niles said, adding: "We are very excited to be part of the DCash Pilot and look forward to continued collaboration with the ECCB in developing and providing a seamless payment experience for everyone."

With the addition of Anguilla - the final Eastern Caribbean Currency Union (ECCU) country to join the DCash Pilot - DCash is now available and may be accessed in all eight countries. DCash may also be transacted instantaneously between persons in different ECCU countries with no transaction fees. For merchants, the availability of DCash in Anguilla enables businesses to not only offer a faster and more convenient payment option at checkout, but also provides the potential to expand their customer base.

Visit www.dcashec.com for more details.

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