The Eastern Caribbean Central Bank has suspended development of DCash 2.0 as it shifts focus to faster and more integrated regional payment systems, according to the communique issued after the 112th meeting of the Monetary Council.

The Council approved the suspension of the next phase of the digital currency project in order to prioritize development of a fast payment system and participation in the CARICOM Payments and Settlement Systems (CAPS) pilot .

Officials did not provide further details during the media briefing, and no questions were raised by journalists on the decision.

DCash, the ECCB’s digital version of the EC dollar, was first introduced as part of a regional effort to modernize payments and expand financial inclusion. The shift in focus suggests the central bank is now placing greater emphasis on improving real-time payment infrastructure and strengthening regional financial integration.

The Monetary Council met Feb. 13 at the ECCB headquarters in St. Kitts and Nevis under the chairmanship of Antigua and Barbuda Prime Minister Gaston Browne, who participated virtually.