DCash is the digital version of the Eastern Caribbean dollar (XCD), first minted and issued by the Eastern Caribbean Central Bank (ECCB) in March 2021 as part of the DCash Pilot Project. DCash was developed to be a faster, safer, and cheaper way to use your Eastern Caribbean dollar.
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The ECCB created DCash in keeping with its strategic goals of Payment System Modernisation and Financial Inclusion (ECCB Strategic Plan 2017-2022) our goal was to explore how a digital currency could enhance financial inclusion, spur economic growth, and improve the resilience and competitiveness of the ECCU. Our vision for DCash stems from the belief that a digital sovereign currency can provide significant efficiency and welfare gains. By adopting this innovative solution, we aim to extend financial inclusion in the region, supporting individuals and businesses alike. This initiative demonstrates our commitment to economic growth and the overall prosperity of the ECCU.
The ECCB is excited to introduce a commercial deployment of DCash. Planning towards the implementation of DCash 2.0 is ongoing, commencing with the publication of a Request for Information (RFI) in December 2023. Essential requirements gathering will be conducted in Q2 and Q3, 2024 through a number of rounds of stakeholder engagement.
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