National Bank of Belize Launches Stablecoin and Digital Wallet
NBB Pay, a stablecoin and digital payment framework built by financial technology startup Bitt, has been debuted in Belize by the Central American country’s state-owned National Bank of Belize (NBB). Prospective users can install the app and register to start utilising Bitt’s digital wallet and stablecoins to conduct financial transactions in multiple forms, including customer-to-customer, customer-to-business, and business-to-business formats. The wallet can also be used to pay bills, and also conduct safe e-commerce transactions between merchants and consumers.
“As worldwide pioneers in the national digital currency business, the Bitt team is ecstatic to see another public release of one of our fintech apps; this time for the betterment of the public of Belize,” stated Brian Popelka, CEO of Bitt. “Bitt proudly created NBB Pay to be completely compatible with present and future financial ecosystems, including cryptocurrencies, stablecoins, cryptocurrencies, and blockchains utilized by other licensed financial institutions and e-government.”
Bitt’s versatile Digital Currency Management System (DCMS) enables financial institutions, monetary authorities, and governments to connect stablecoins and CBDCs with their current core financial and back-end software, accounting systems, various payment apps, and wallets. NBB chose the solutions that would best prepare the organization and its clients for the era of financial transactions in the digital age.
Bitt’s DCMS is being deployed for the first time in Central America using NBB Pay. Bitt’s DCMS is presently used by two central banks more than 50 financial institutions in eight more countries. Over the next six months, the digital currency pioneer’s revolutionary technology will be applied in five other nations.
Bitt is a financial technology business based in the United States that offers crypto currency and stablecoin solutions to central banks, financial firms, governments, and ecosystem members globally. Bitt is at the vanguard of financial innovation, with a focus on central bank digital currencies (CBDCs) and stablecoins.