Bitt to Deploy Stablecoin in Central America
25 November 2021, Bridgetown, Barbados - Global fintech company, Bitt, will deploy a stablecoin for a government-owned national bank in Central America by the end of 2021. NBB Pay, the digital payment system that Bitt has developed for the National Bank of Belize Limited (NBB), has entered the final phase of testing in the form of a private launch to select participants.
NBB’s new payment system is an example of Bitt's Financial Institution Suite, a component of Bitt’s Digital Currency Management System (DCMS). When it is publicly launched, NBB Pay users will be able to use the Bitt-developed digital wallet and stablecoins make financial customer-to-customer, customer-to-business and business-to-business transactions, pay bills and offer safe online transactions for merchants and customers.
“Digital currencies are transforming the way that the world conducts business and informal financial transactions. Bitt offers fintech solutions that are fully interoperable with current and future financial ecosystems including stablecoins, digital currencies and their respective platforms”, stated CEO of Bitt, Brian Popelka. “We developed NBB Pay for future operations with the Central Bank of Belize, other licensed financial institutions, e-government, businesses, organizations, and other digital consumer wallets.”
Bitt’s modular DCMS allows prospective clients to choose which elements would best suit their needs. These solutions can integrate into existing core banking and back-office software, accounting systems, other payments applications and wallets.
NBB Pay is the first deployment of Bitt’s DCMS in Central America. Two central banks and over 50 financial institutions across seven other countries currently employ Bitt’s DCMS. The digital currency leader’s innovative technology will be deployed in five additional countries within the next six months.