The Caribbean Telecommunications Union (CTU) is set to collaborate with the Advisory Group for Carib$ to enhance financial transactions within CARICOM states.
An MOU was signed between CTU and Abed Ventures 2 on August 4th, 2023, formalizing their partnership. Carib$ acts as a supplementary currency, enabling swift cross-border payment settlements among Caribbean businesses.
The Advisory Board, consisting of public and private entities focused on regional economic development, will aid Carib$’s implementation.
CTU’s Secretary-General Rodney Taylor highlighted the potential for Carib$ to stimulate regional trade and contribute to economic growth.
The collaboration is poised to strengthen cross-border financial solutions in the Caribbean.(Observer)
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