The release notes that since 1959, the BVI has adopted the United States Dollar as its national currency and therefore, the digital asset will be a stablecoin, pegged 1:1 to the dollar. It is hoped that the currency will make transactions a lot cheaper and also improve on the current speed as well.
The British Virgin Islands joins other regions such as the Marshall Islands, which are currently working on creating digital tokens for an improved financial atmosphere.
Image Credits: Pixabay
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