Barbadian bitcoin startup Bitt, the investor of which is the venture capital division of the retail giant Overstock’s Medici Ventures, signed a Memorandum of understanding with the Central Bank of the Caribbean Islands Curacao and Sint Martin (CBCS).

The goal of the collaboration is studying the possibility of launching digital Guilder to replace piatogo ang. The parties stated that they will focus on testing the procedure KYC/AML.

In CBCS recognized the importance of technology distributed registry in improving cross-border remittances and digital payments. Representatives of the Central Bank stressed that trying to keep up with technology and innovative FINTECH solutions.

Bitt previously received additional investments of $3 million from the Medici Ventures.

In 2016, Bitt also created based on the blockchain, the digital equivalent of the Barbados dollar, which is supported by the Central Bank of this island nation and is built in to offer a bitcoin wallet.