Central Bank of the Bahamas to issue its own digital currency Sand Dollar next month.
According to Bloomberg, immediately after the issue, the Central Bank begins to distribute sand dollars among individuals and legal entities. They will be issued as required and only instead of physical banknotes withdrawn from circulation..
The Bahamas: The World’s First Digital Currency | F&D Magazine
Developers have adapted the system to the geographic features of the country..
During project testing in December 2019, the Central Bank of the Bahamas issued 48,000 sand dollars backed 1: 1 by the local currency (Bahamian dollar).
CBBO began to form the base and technical infrastructure from the beginning of this year.
text: Ivan Malichenko, photo: santour
Bahamas to Launch National Digital Currency in October