Timothy Antoine

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CARICOM payment system enters pilot phase across Caribbean

Championing CAPSS pilot; ECCB among initial participants

A Barbadian business buying goods from Trinidad has long had to convert to U.S. dollars to pay. That hurdle is coming down. In October 2026, the CARICOM Payment and Settlement System (CAPSS) entered its pilot phase, allowing cross-border payments to settle in local currencies across 11 Caribbean jurisdictions.

Updated Oct 13

Notable Quotes

What we want to do next is really pursue a pilot, which is to say bring additional central banks on board; at least two others for the initial pilot. ECCB will probably be one of those.

from CARICOM payment system enters pilot phase across Caribbean · Updated Oct 13

Think of what CAPSS could do for the region in terms of moving money faster and cheaper and reducing reliance on correspondent banks.

from CARICOM payment system enters pilot phase across Caribbean · Updated Oct 13