The Bank of Jamaica (BoJ) has legalized its CBDC in a move to provide an alternative to its cash-based economy.

According to reports, the Jamaican senate has authorized the central bank to issue its CBDC, known as the Jamaica Digital Exchange, or Jam-Dex. According to Bank of Jamaica Governor Richard Byles, the Jam-Dex will officially launch for domestic use later this month.

The digital Jamaican dollar “offers a more secure, convenient alternative to physical notes and coins, and can be used without a bank account,” Byles told Blockworks.