British Virgin Islands to launch its own digital currency

Pedro Gonçalves
clock • 1 min read

The British Virgin Islands is rolling out a national digital currency dubbed BVI~LIFE in partnership with blockchain startup LIFElabs. The coin will be a stablecoin pegged 1:1 to the US dollar, which the BVI have used since 1959, and its use is expected to reduce transactional fees, increase transaction speed and be accessible to outsiders such as tourists.  The BVI prime minister Andrew Fahie believes that blockchain technology and the new digital currency will enable the territory to become a global financial hub. "The importance of blockchain technology and the significant benef...

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