Digital Bahamian Currency is officially launched and is available nationwide

Digital Bahamian Currency is officially launched and is available nationwide

The Bahamas has followed its plan and the digital Sand Dollar can now be used by anyone in the area.


21 Oct 2020 , 12:12 @ Katie Müller

Digital Bahamian Currency is officially launched and is available nationwide

The Bahamas has followed its plan and the digital Sand Dollar can now be used by anyone in the area.

As we wrote to you a month ago, the Bahamas planned to launch and put Sand Dollar into circulation this month and they did it.

The Central Bank of The Bahamas announced the official launch of Sand Dollar just a few hours ago on its Twitter.

The report makes it clear. The Sand Dollar is available nationwide and you can call the published numbers for more information.

The recall what was the main goal of creating this digital currency and a statement from Chaozhen Chen, the assistant manager of eSolutions at the Central Bank of The Bahamas:

A lot of residents in those more remote islands don’t have access to digital payment infrastructure or banking infrastructure,

We really had to customize the effort and the solution to what we need as a sovereign nation.

This archipelago state consists of more than 700 islands, cays, and islets in the Atlantic Ocean, which are often sought after and popular by travelers. In this context, Sand Dollar thus plays an important role in facilitating and enabling digital payments in places where this has not been possible before.

Read also: Russian Ministry of Finance thinks the digital ruble can reduce the economy’s dependence on the U.S. dollar

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