RF Holdings Limited has entered into partnership with financial technology company, Bitt to facilitate the acceptance of digital currency transactions across its Caribbean network.
The partnership, which focuses on developing a platform based on Bitt's digital currency infrastructure, will allow for digital currencies, such as 'Sand Dollar' in The Bahamas, 'mMoney' in Barbados, and the Eastern Caribbean Central Bank's 'DCash', to be accepted and accessed across the investment banks’ products by a wider network of Caribbean clients. Digital currency is a form of currency that is available only in digital or electronic form, and not in physical form. It is also called digital money, electronic money, electronic currency, or cyber cash.
RF Holdings Limited, which is the parent company to a group of investment banks in The Bahamas, Barbados, and the Cayman Islands, indicated that this latest venture is expected to assist in providing added convenience to clients of the investment bank, and tocreate a more efficient business model. The platform will be able to facilitate payments from and between banks, individual consumers, and merchants.