Sand Dollar
LaunchedBahamas
Central Bank(s)
Central Bank of Bahamas
Announcement Year
2017
Status
Launched
Retail/Wholesale
Retail
Structure
Token
Technology Provider
Movmint
Technology
NZIA Cortex DLT
DLT / non-DLT
DLT
The main goals of the Sand Dollar to modernise and streamline the country's financial system, reduce service delivery costs, increase transactional efficiency and improve financial inclusion.
After a successful 2019 pilot on the island conglomeration of Exuma the Sand Dollar was launched in October 2020 on further islands of the Bahamas. The Sand Dollar is the first ever nationwide Central Bank Digital Currency in the world.
Link to announcement
Last update: July 2024
July 2024
Link to announcement: www.reuters.com
July 2023
Link to announcement: www.centralbankbahamas.com
June 2023
Technology Provider: NZIA → Movmint
Link to announcement: www.centralbankbahamas.com
April 2023
Main motivation/goals of the CBDC: The CBB is to add more features to the next version of the Sand Dollar’s ‘core application’ to allow financial institutions to “seamlessly structure and manage merchant fee arrangements,” he informed the conference audience. → The main goals of the Sand Dollar to modernise and streamline the country's financial system, reduce service delivery costs, increase transactional efficiency and improve financial inclusion.
Link to announcement: www.centralbankbahamas.com
November 2022
Main motivation/goals of the CBDC: The main goals of the Sand Dollar to modernise and streamline the country's financial system, reduce service delivery costs, increase transactional efficiency and improve financial inclusion. → The CBB is to add more features to the next version of the Sand Dollar’s ‘core application’ to allow financial institutions to “seamlessly structure and manage merchant fee arrangements,” he informed the conference audience.
Link to announcement: www.globalgovernmentfintech.com
October 2020
Pilot → Launched
Technology: NZIA Cortex DLT
Main motivation/goals of the CBDC: The main goals of the Sand Dollar to modernise and streamline the country's financial system, reduce service delivery costs, increase transactional efficiency and improve financial inclusion.
Link to announcement: www.cemla.orgcointelegraph.com
Structure: Account/Token → Token
Description: The sand dollar is the first ever nationwide Central Bank Digital Currency in the world. As a pilot location, Exuma as one island of the Bahamas was chosen. → After a successful 2019 pilot on the island conglomeration of Exuma the Sand Dollar was launched in October 2020 on further islands of the Bahamas. The Sand Dollar is the first ever nationwide Central Bank Digital Currency in the world.
June 2019
Research → Pilot
Description: The sand dollar is the first ever nationwide Central Bank Digital Currency in the world. As a pilot location, Exuma as one island of the Bahamas was chosen.
DLT / non-DLT: DLT
May 2017
None → Research
Announcement Year: 2017
Retail/Wholesale: Retail
Structure: Account/Token
Technology Provider: NZIA
Country / Region: Bahamas
Central Bank(s): Central Bank of Bahamas
No recent news found for this currency.