Digital coin created for Caribbean’s Dominica as island partners with Huobi

By Shanieka Smith

Staff Writer

December 2, 2022 – The Commonwealth of Dominica has partnered with cryptocurrency exchange Huobi, to issue its own national cryptocurrencies, Dominica Coin (DMC), and Digital Identity Documents (DID), already reports indicate a surge for the Huobi token.

This new collaboration with Dominica will bring the Caribbean one step closer to being a global cryptocurrency exchange centre.  Huobi also announced its intention to move headquarters from Seychelles to the Caribbean.

It was explained, “The deal is noteworthy partly because of its connections to crypto billionaire Justin Sun, founder of the Tron blockchain where the Caribbean island’s new token will initially reside.”

Dominica Coin (DMC) and digital identity documents (DID) will be issued by Huobi Prime via the TRON network (a project dedicated to building the infrastructure for a truly decentralized Internet); both will serve as credentials for the future metaverse platform based in Dominica. DIDs can be used for cryptocurrency Know Your Customer verification, applying for loans, and opening bank accounts on the island.

The DMC is not yet ready for launch, but The HT token is up 15% over the last 24 hours to $7.12. It’s up 40% over the past seven days.

As one of the first Caribbean islands to adopt the citizenship-by-investment policy, the Dominican government is seeking to delve into the metaverse and Web3 technology as a means to boost the country’s development.