7 months ago

Barbados-based bitcoin startup Bitt signed a memorandum of understanding with the central bank of the Caribbean islands of Curaçao and Saint Martin (CBCS).

The aim of the cooperation is to investigate the possibility of launching a digital guilder for the replacement of the Dutch Antilles guilder. The parties said they would focus on testing the KYC / AML procedure.

The CBCS recognized the importance of distributed registry technology in improving cross-border transfers and digital payments. Representatives of the central bank stressed that they are trying to keep pace with technology and innovative finteh-solutions.

Previously, Bitt received an additional investment of $3 million from Medici Ventures.

In 2016, Bitt also created a digital analogue of the Barbados dollar, supported by the central bank of this island state and built into the proposed bitcoin-wallet.