By Patience Loum
Barbados-based blockchain startup Bitt is joining forces with the Centrale Bank van Curaçao en Sint Maarten (CBCS) in the hope of issuing a national bank-sponsored cryptocurrency for the two countries.
Bitt, a subsidiary of Overstock’s Medici Ventures, said Monday that it has signed an agreement with the central bank for the Dutch Caribbean island Curaçao and Netherlands constituent nation Sint Maarten in the beginning of August . The objective of the arrangement is to look at ways of issuing a computerized Curaçao and Sint Maarten guilder in place of the present Netherlands Antillean guilder.
The initiative will to some degree center around testing know-your- customer/ anti-money laundering (KYC/AML) systems as explained in statements released to the public.
CBCS acting president Leila Matroos-Lasten said the bank reached a deal with Bitt “due to this company’s regional experience in digital payments and its macroeconomic views.”