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Central Bank Of Bahamas: Introducing Digital Currency | Fintech InShorts: Latest fintech news, analysis by experts

Less than 1 min.Read

Central Bank Of Bahamas: Introducing Digital Currency

By Steve Sam

December 27, 2019

Central Bank Of Bahamas: Introducing Digital Currency

The Central Bank of the Bahamas is planning to start a rollout of its new digital currency
Called Project Sand Dollar, the name of the currency will also be the sand dollar
The intent is to start a fully-fledged central bank digital currency (CBDC)
Then the move is long-awaited and comes after years of work through the Bahamian Payments System Modernization Initiative (PSMI)
After its rollout in Exuma, the sand dollar will be released in Abaco in the first half of 2020
While the project takes off in Exuma, the bank will be working to strengthen consumer protection and enact regulations

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