Central bank launches digital currency in the Bahamas • NFCW

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By Tom Phillips ^[2] • 23 October 2020 • Updated 23 October 2020 • nfcw.com ^[3]

Citizens of the Bahamas can now make payments and transfers from a digital wallet using the country’s Sand Dollar central bank digital currency (CBDC).

The Central Bank of The Bahamas confirmed that the Sand Dollar is now “available nationwide” in a tweet ^[4] and a Facebook post ^[5].

“Digital B$ can be accepted at any merchant with a Central Bank-approved e-wallet on their mobile device,” the bank says, adding that “at the moment, the digital B$ can only be used within the Bahamas”.

The bank announced in September that it intended to launch the e-currency this month ^[6] after pilot tests began ^[7] in January 2020 and were extended to the island of Abaco ^[8]in March.

Next: Visit the NFCW Expo to find new suppliers and access free resources ^[9]

Central bank launches digital currency in the Bahamas • NFCW

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