## Making Waves

## Source details

**Canonical URL:** [Making Waves](https://www.imf.org/en/publications/fandd/issues/2026/09/currency-notes-making-waves-melinda-weir)

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## Bibliographic details
- Authors: MELINDA WEIR
- Published: August 18, 2026

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### Overview and launch
- Curaçao and Sint Maarten introduced a new shared currency, the Caribbean guilder, which went into circulation in March 2025.
- The Caribbean guilder replaces the Netherlands Antillean guilder previously used by the two countries.
- The new banknote series was launched following a public awareness campaign for the two Caribbean nations, which are part of the Kingdom of the Netherlands.
- The series has received numerous awards, including Banknote of the Year from the International Bank Note Society.

### Design and symbolism
- Theme: “world under the sea” on the front and local landmarks on the back, emphasizing marine life and cultural landmarks.
- Featured marine species: gray angelfish; giant tun snail shell; spotted eagle ray; green sea turtle; stoplight parrotfish; longsnout seahorse.
- Highest-denominated note: the 200 Caribbean guilder bill features longsnout seahorses on the front and Curaçao’s Queen Emma Bridge in historic Willemstad on the reverse.
- Rationale: The underwater motif was chosen to demonstrate the connection between the two countries’ distinct identities and cultures—“Fish swim freely, they see no borders,” reflecting unity and a monetary union.

### Public reception and cultural impact
- Immediate public uptake: residents lined up at ATMs to obtain the new notes.
- Cultural response: social media activity included songs inspired by the new currency.
- Local commentary: a Curaçao resident joked, “It costs two seahorses,” referencing imagery on the 200 Caribbean guilder note.

### Production, partnership, and security
- Central Bank: Central Bank of Curaçao and Sint Maarten (CBCS) led the initiative; Nancy Guttenberg-van der Wal noted launching an entirely new currency is rare in recent decades.
- Design partner: Crane Currency (US-based firm) collaborated with the CBCS on design.
- Security features described as “a major upgrade” and include:
  - a 3D moving stripe
  - security threads
  - high-relief printing
  - transparent features
  - iridescent ink
- CBCS design priorities summarized by Eleanore Reynaert: “It has to be nice, it has to be beautiful, but most importantly, it has to be secure.”

*Source: Making Waves — MELINDA WEIR, F&D Magazine, September 2026.*

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## Content in this bundle

- **Making Waves**
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_Source: https://www.imf.org/en/publications/fandd/issues/2026/09/currency-notes-making-waves-melinda-weir_