Central bank launches digital currency in the Bahamas

Bahamas CBDC Sand Dollar digital B$
DIGITAL CURRENCY: Bahamians can now use the Sand Dollar to pay and make transfers from a digital wallet

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 and a Facebook post.

“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 after pilot tests began in January 2020 and were extended to the island of Abaco in March.

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