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The Bahamas launches the Sand Dollar CBDC

Wednesday 21 October 2020 14:39 CET | News

The Bahamas has launched a central bank digital currency, Sand Dollar.

The Central Bank of the Bahamas has announced that the country’s ‘Sand Dollar’ — a state-backed virtual currency — is now available nationwide.

The CBDC became available to all residents of The Bahamas on 20 October 2020.

Sand Dollar transfers are made by mobile phone. The digital currency can also be used at any merchant with a Central Bank approved e-wallet on their mobile device.

According to Cointelegraph.com, the Sand Dollar is intended to drive financial inclusion within The Bahamas.


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Keywords: Bahamas, CBDC, Sand Dollar, digital currency, mobile payments, mobile transfers, e-wallet, central bank
Categories: Banking & Fintech | Mobile Payments
Countries: Bahamas
This article is part of category

Banking & Fintech