The Bank of Jamaica (BOJ) says it has selected eCurrency Mint Incorporated as the technology provider to support its testing of a central bank digital currency (CBDC) solution in the bank’s Fintech Regulatory Sandbox for a pilot in May to end December 2021.

The BOJ said the selection was made after an extensive procurement process.

In a statement the central bank noted that eCurrency Mint will also be the provider when the national CBDC roll-out begins in early 2022.

Said the BOJ: “eCurrency Mint is a global thought leader and pioneer of the hardware, software, and cryptographic security protocol technology to enable central banks to securely issue, distribute and supervise CBDC, a digital fiat currency that will operate alongside notes and coins as digital legal tender.”

After quietly exploring the viability of a CBDC for some time, the BOJ took the decision in May 2020, as part of its ongoing retail payments reform, to venture into the digital innovation that is fast becoming a feature of global central banks.