Bitt rolls onto scene


COMMERCIAL BANKS IN Barbados have been warned not to ignore the growing use of digital bitcoin currency in the local market.

Gabriel Abed and Oliver Gale, the young co-founders of Bitt Inc., the company issuing digital bitcoins, the electronic alternative currency to cash, said local banks were not keen to join the movement though the company’s operation had received the blessing of the Central Bank of Barbados and the Financial Services Commission (FSC).

The two pioneers launched the company on Monday night during a function at the Buzo Osteria Italiana, The Pavillion, Hastings, Christ Church.

Abed, who has been pushing bitcoin use for some time, recently landed the support of Trinidadian investor Peter George, who has put a “substantial sum behind the local company”.

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