The Bank of Jamaica (BOJ) has announced the successful onboarding of JN Bank Limited as a wallet provider to distribute JAM-DEX.

According to the BOJ, JN Bank on December 30 became the second deposit taking institution to receive digital currency to the value of $1 million worth of JAM-DEX from the Central Bank.

JN Bank has been finalising its digital wallet application, which is at an advanced stage, for provision to the public. The distribution of JAM-DEX through the JN wallet to make and receive payments is scheduled to commence this year.

Other wallet providers are being assessed in Bank of Jamaica Fintech Regulatory Sandbox in preparation for the distribution of JAM-DEX.

JAM-DEX is issued and backed by the BOJ and is a safe, convenient and secure digital means of payment.