Case Study: NCB achieves one of the world’s first CBDC launches with Baufest

NCB launches one of the first CBDC MVPs in under 6 months with Baufest

NCB, one of Jamaica's largest financial groups, was challenged by the Central Bank of Jamaica to develop a minimum viable product for a central bank digital currency (CBDC) within six months. Partnering with Baufest, the goal was to build a secure and scalable digital wallet solution to promote greater financial inclusion.

Baufest assembled a team to develop the front-end mobile application for the CBDC, which was integrated into NCB's existing Lynk digital wallet. The resulting MVP, JAM-DEX, was the only one to meet the central bank's terms and was successfully launched. Baufest's solution provided a safe, user-friendly application that expanded retail payment infrastructure and is now generally available to the public.

NCB