Bahamas Sand Dollar event

cbdc · PageRank 0.0037

Also known as: SandDollar

Overview

The Sand Dollar is the digital version of the Bahamian dollar issued by the Central Bank of The Bahamas, and was the world's first nationally launched central bank digital currency. After pilots in Exuma and Abaco, national release through authorised financial institutions began on 20 October 2020. Its stated objectives were improving financial inclusion across the country's dispersed islands and strengthening defences against money laundering and other illicit activity associated with cash. Transactions are fully auditable and non-anonymous, and users access the currency through the Sand Dollar app after enrolling with an authorised issuer; adoption has remained small relative to cash in circulation.

Within the DeFi Intel graph, Bahamas Sand Dollar connects to 5 tracked entities, most strongly to Central Bank of The Bahamas, Central Bank of The Bahamas, Central Bank of The Bahamas.

Relations

Top connections in the DeFi Intel knowledge graph (confidence-weighted, 5 of 5 total).

Frequently asked questions

When was the Sand Dollar launched nationally?

The Central Bank of The Bahamas began gradual national release on 20 October 2020, following pilots in Exuma and Abaco.

Why was the Sand Dollar created?

Its two main objectives were improving financial inclusion and strengthening national defences against money laundering and other illicit activity that cash makes easier.

Is the Sand Dollar anonymous?

No — the central bank describes it as having a fully auditable, non-anonymous transaction trail with monitoring for fraud detection.