The Central Bank of Cuba (BCC) confirmed the operation of the nation's first private currency exchange office, located in Santa Clara, following economic transformations approved during the National Assembly of People's Power in June.

According to a statement released on the institution's official Facebook page, the central bank has been supervising operations and refining applicable regulations, while reviewing additional applications for similar private entities.

Financial authorities highlighted that the entity provides valuable real-time market data derived from settled exchange transactions, aiding the central bank in establishing official exchange rates for individuals and non-state economic actors.

During a broadcast of the television program Mesa Redonda, Ian Pedro Carbonell Karell, Director of the BCC Payment System, noted that these pilot initiatives aim to modernize the financial system by increasing accessibility to foreign currency operations and banking services.