The Central Bank of Cuba has for the first time authorized ten companies to use cryptocurrency for cross-border payments.

PANews reported on March 31 that, according to Cubadebate, the Central Bank of Cuba has authorized ten domestic companies to use cryptocurrency for international payments for the first time. These include nine small and medium-sized private enterprises and one joint venture. The authorization was published in the official gazette on March 23 and is valid for one year, renewable. Authorized companies can only conduct cross-border payments related to their core business through licensed virtual asset service providers held by the Central Bank and must report transaction details to the Central Bank quarterly. The authorized companies operate in sectors including information technology, software development, catering, transportation, and light industry. This marks a significant step forward in Cuba's digital transformation of its financial system since recognizing the legality of cryptocurrencies in 2021.