Digital Payments & Fintech · Grenada
Fintech & payments regulation in Grenada (2026)
Grenada shaded by its digital payments & fintech status
Fintech and digital payments in Grenada: licensing regime, under Payment System and Services Act, 2025 (enacted in Grenada), administered with the Eastern Caribbean Central Bank (ECCB) as the regional payment-system overseer/licensor; bank licensing under the Banking Act; non-bank money services and virtual-asset businesses licensed/registered by the Grenada Authority for the Regulation of Financial Institutions (GARFIN) under the Money Services Business Act (Cap 198A) and the Virtual Asset Business Act, 2021..
Grenada, a member of the Eastern Caribbean Currency Union (ECCU), operates under a clear licensing regime for digital payments. The Payment System and Services Act, 2025, which Grenada is one of the first three ECCU states to pass into law, establishes structured licensing of payment service providers, ECCB oversight, consumer protection and a fintech regulatory sandbox, while non-bank money-transfer and virtual-asset firms are licensed/registered by GARFIN. Shared ECCU rails (ECACH clearing, electronic funds transfers and an emerging instant-payment system) provide the underlying retail-payment infrastructure.
Key points
The Payment System and Services Act, 2025 has been passed into law in Grenada (alongside Antigua and Barbuda and Saint Lucia), replacing the 2008 Payment System Act. It provides modern payment definitions, structured licensing for payment service providers, consumer protection, mandated interoperability and strengthened ECCB oversight.
As the central bank for the eight-member ECCU, the ECCB licenses banks and oversees/regulates payment systems and payment service providers across the currency union, including Grenada.
The 2025 Act introduces regulatory-sandbox provisions allowing fintechs to test innovative payment solutions in a controlled environment, supporting financial-inclusion use cases.
Money Services Businesses (money transmission/remittance, currency conversion) must be licensed and are supervised by GARFIN under the Money Services Business Act, Cap 198A (s.33(1)(a)); GARFIN actively enforces, having revoked a money-service licence in 2024.
Virtual Asset Service Providers must register with and are supervised by GARFIN under the Virtual Asset Business Act, 2021, which covers AML/CFT compliance and enforcement for crypto-related fintech activity.
Grenada participates in the ECCU-wide ECACH clearing house; electronic funds transfers (bank-to-bank credit transfers) have been live since 2018, and ECACH is rolling out an Instant Payment System for real-time interbank transfers across the ECCU.
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