Bahamas to force banks to support its CBDC
Since its launch in 2020, the Sand Dollar CBDC has failed to garner the expected uptake in the Bahamas, forcing the central bank to mandate banks to support it.
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Bahamas’ Sand Dollar attracted 0.5% of cash in circulation 3 years on: official
Bahamians have been willing to explore the CBDC, with 120,000 of the island’s 400,000 opening accounts, but they have only transacted $2.1 million in over three years.
The Bahamas to allow tax payments in digital assets
Prime Minister Phillip Davis unveiled a white paper that charts out his plans for the digital asset future of the island, which he wants to make it the leader in the Caribbean.
PwC: More than 80% of central banks have considered launching CBDC
The PwC Global CBDC Index placed Nigeria and the Bahamas at the top of the retail CBDC developments, with Thailand and Hong Kong leading the wholesale sector.
CBDC development is accelerating, but China isn’t winning the race: PwC report
PwC published its inaugural Global CBDC Index recently, measuring global central banks’ maturity level in deploying their own digital currency.
Jamaica, Ireland firm partner to test CBDC project in 2021
After the Bahamas, Jamaica would pilot test central bank digital currency. Roll-out expected in early 2022.
Bahamas launches the first digital currency-linked debit card
The Bahamas launched the Sand Dollar as it sought to insulate its financial system against the constant disruptions that occur whenever the country experiences a natural disaster.
CoinGeek Pulse Episode 18: World’s first CBDC, PayPal’s HODL scheme and Pumpkin Man Craig
This week in CoinGeek Pulse, we are running down the top stories that shake the Bitcoin and blockchain industry.
Bahamas launches Sand Dollar, the world’s first official CBDC
The Central Bank of the Bahamas has developed the Sand Dollar to be transferrable via mobile phones, making it easy to use for the residents.
Bahamas seeks international use of Sand Dollar digital currency
Officials at the Central Bank of the Bahamas are looking at integrating the Sand Dollar into the global financial system.
Bahamas to launch Sand Dollar digital currency in October
The Bahamas, a country of 400,000 people, has been pilot testing its digital currency—the Sand Dollar—since December 2019.
Bahamas central bank adds new digital currency to balance sheet
There was $48,000 worth of its central bank digital currency, the Sand Dollar, in circulation, according to the Bahamas central bank.