Bitt Inks Blockchain Deal With Another Caribbean Central Bank
Barbados-based blockchain startup Bitt is partnering with the Centrale Bank van Curaçao en Sint Maarten (CBCS) to look into issuing a central bank-backed digital currency for the two nations. Bitt, a portfolio company of Overstock’s Medici Ventures, said Monday that it has signed a memorandum of understanding (MOU) with the central bank for the Dutch Caribbean island Curaçao and Netherlands constituent country Sint Maarten earlier this month. The goal of the deal is to jointly examine the possibility of issuing a digital Curaçao and Sint Maarten guilder to replace the current Netherlands Antillean guilder. The project will focus in part on testing know-your-customer/anti-money laundering (KYC/AML) technology, according to statements. CBCS acting president Leila Matroos-Lasten said the bank signed the MOU with Bitt “due to this company’s regional experience in digital payments and its macroeconomic views.” She added: “The central bank is determined to address its challenges proactively by exploring the
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