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British Virgin Islands, Blockchain Firm Develop Crypto Payments System for Emergency Aid

Published 04/22/2019, 05:57 AM
Updated 04/22/2019, 06:02 AM
British Virgin Islands, Blockchain Firm Develop Crypto Payments System for Emergency Aid

The British Virgin Islands — a United Kingdom Overseas Territory in the Carribean — has partnered with blockchain firm Lifelabs.io to launch an alternative crypto-enabled payments infrastructure for residents across its network of islands. The development was reported in a BVI government press release on April 18.

The partnership notably heralds a particular focus on using a crypto infrastructure to support the reliable and swift transfer of aid and access to funds in emergency scenarios.

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