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A Caribbean Island Incorporates Bitcoin Into Its Financial System

A Caribbean island incorporates Bitcoin into its financial system. Bequia will accept BTC as a means of payment for goods and services.

Bequia , an island that is part of the archipelago of Saint Vincent and the Grenadines, in the heart of the Caribbean , announced that it will begin to accept Bitcoin (BTC) as a form of payment for different types of goods and services . The community has about 5,000 inhabitants, but the new service will also be available to tourists.

It is a project called One Bequia , promoted by Storm Gonsalves , which seeks to boost crypto trade in the region. The businessman explained that his initiative seeks to modernize a region marginalized by the traditional financial system . The leading cryptocurrency, in this way, can be used to pay for hotel services, rentals or even food in gastronomic stores.

” Cryptocurrency adoption is a response to the very real challenges facing island communities , increasingly isolated from conventional banking facilities ,” Gonsalves commented.

The businessman explained in dialogue with Euronews that the residents of the small islands of the Caribbean face increasing difficulty in sending and receiving money from other countries , due to the obstacles of traditional banks. In this sense, “risk reduction” becomes an inconvenience for remittances.

The island of Bequia barely has a branch of the Bank of Saint Vincent and the Grenadines, so the adoption of crypto drives it towards the Caribbean modernization , a path that Antigua and Barbuda, Grenada, St. Kitts and Nevis and Saint Lucia have already traced. , who have adopted DCash to their systems.

“Not exactly the place where you would expect to take place an innovative real estate development in global proportions , ” said Gonsalves over the Caribbean. However, it does seem to be the propitious scenario to boost crypto trading: “I wanted to break out of this mold and surprise the world by pioneering a new form of project financing, such as the use of alternative payment methods such as Bitcoin . “

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