JUST over a month after launching its digitised version of the Barbadian currency, the main investor in the local company bitt is already eyeing expansion in the Caribbean.
Dr Patrick Byrne, the chief executive officer of Overstock.com, said all that was necessary was the requisite legislative framework in the other islands.
He was speaking as he signed a multi-million dollar investment in the money service founded by Gabriel Abed and Oliver Gale.
Byrne, who noted Barbados had beaten the Netherlands in introducing the digital currency by a number of months, said: “We will be investing just as quickly and spreading this across the Caribbean just as quickly as the regulatory and legal environment of each island permits it.
“We’re going to be spreading this just as quickly once the other Central Banks and Ministers of Finance prove to be as far sighted as the Bajan ones,” he added.
Co-founder Gale said the intention of the company was to make financial services more affordable, more accessible and more secure.
“The bit exchange is the core of the financial system that we are building. The digital dollar represents the frictionless financial system. It makes commerce easier; it removes physical barriers, not just in Barbados, but through the CARICOM region,” he said. (HLE)
