NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Wednesday, September 21, 2016

Bitcoin wallet Caricoin Ltd. that launched its first mobile money wallet to Caribbean users in June, has announced that it is in talks with Bank of Jamaica (BOJ) in order to set up first licensed bitcoin exchange in Jamaica.

According to the official post, the talk between the central bank and Caricoin has signaled that any approval is likely to come within the frame of mobile-money system. Karsten Becker, Caricoin’s adviser on Caribbean regulatory told Gleaner Business that the company is much interested in setting up operations in Jamaica. He also mentioned that Caricoin’s platform sees Jamaica as a key place since some investors are Jamaicans.

“We realize that there is a great need in Jamaica specifically for something that can cater to the unbanked and that open up e-commerce to the average small business,” he said.