CaribCoin - Carib$

Accept and bill Carib$

Revolutionising Trade and Cross-Border Payments in the Caribbean

Introducing Carib$, the complementary currency for the Caribbean.

MVP Goals

750K

C$ Payments in 2023

2

Participating Countries

100%

Cash backed

Features

Access New Markets & Create New Growth

Carib$ is a complementary currency, operating alongside Caribbean national currencies to bridge the region’s economies and create new markets for your business, making Carib$ a fast track towards CSME.

Simple

Easy to use digital money with a stable value

Secure

Complementary currency securely backed by stable collateral

Fair

Governed by consent of public and private stakeholders

Convertible

Sell Carib$ for Caribbean currency at any time

Stable

Consistent and predictable exchange rates

Connected

Integrated with CariBizNet — an opportunity to build connections

Milestones

How We Are Creating Our Application

We are building our application with you.

September 2022

Proudly presented Carib$ to the public in the 19^th Caribbean Telecommunications Union Ministerial Seminar.

October 2022

Workshops with merchants and payment service providers, setting the stage to turn Carib$ into an economic success story for all stakeholders.

June 2023

Beta test phase: putting our technology under pressure to ensure safety and stability.

August 2023

Transaction volume 10,000 Carib$. With a successful proof-of-concept, we can celebrate with Barbadian and Jamaican rum.

January 2024

3 Countries in participation, enhancing the business network effectiveness by giving a third Caribbean nation access.

Payments

Caribbean-Wide Payments at Your Fingertips

Making payments across the Caribbean has never been easier. Use the Carib$ Wallet Application for all your payment needs.

Governance

By the Caribbean

Responsible and transparent governance is at the heart of Carib$ — ensuring a secure, stable, and growth-minded solution. Carib$ leverages the experience and expertise of public and private-sector stakeholders for its governance.

Carib$ Value
Collateral Ratio
Collateral Composition
New Products

Establishing a 'peg'

Essentially, it's the exchange rate between Carib$ and a Caribbean currency, like the Barbados Dollar. The peg will be set to maximise value for Carib$ users.

Determine the amount of Carib$'s collateral backing

Carib$ will initially have a collateral ratio of 100% to ensure the security and stability of the currency. Traditional currencies employ a range of collateral ratios, ranging from 0% (USD) to nearly 100% (BBD). The adjustment of the collateral ratio is possible in the future through users’ trust in the integrity of Carib$.

Determine the composition of Carib$’s collateral backing

Carib$ will be backed initially by only Barbados and Jamaica Dollars (BBD, JMD). A dynamic mix of Caribbean commodities, securities, bonds and other assets may be introduced in the future—collateral that promotes stability and regional development.

Looking to the future

Introduce new Carib$ products and features to enhance Caribbean trade development. Carib$ products may include trade finance tools, cash advances, term loans, purchase order finance, and receivables discounting, among others.