BOJ: No new financial institutions requesting entry into CBDC 'sandbox'

 

The Bank of Jamaica (BOJ) says up to February this year, there were no financial institutions requesting entry into the central bank digital currency (CBDC) testing "sandbox".

 

Addressing the issue at the most recent BOJ press briefing, Deputy Governor Natalie Haynes said testing of the previous entrants is still ongoing. 

 

"However, we have to await the amendments to the Payment Clearing and Settlement Act for those persons to graduate from the sandbox. We are well advanced with that. Cabinet has approved the amendments and so Office of the Parliamentary Council is actually drafting the amendments. So we are on track with that," she said. 

 

NCB's Lynk is the only central bank digital currency capable wallet widely available to the public.

 

JN Bank is another player with an application said to be close to full deployment.