About
The SandDollar is the Bahamian dollar in digital form, a retail central bank digital currency issued by the Central Bank of The Bahamas and rolled out nationwide from 20 October 2020 after pilots in Exuma and Abaco. The central bank does not hold user accounts. Wallets are provided by authorised financial institutions such as banks, credit unions and payment providers, in their own apps or the generic SandDollar app, with tiered limits by customer due diligence. Wallets can be linked to bank accounts, and payments settle instantly person-to-person and to merchants. The central bank reported 117,610 wallets in use as of September 2023 and B$1.46 million in circulation as of November 2023.
118,955 consumer wallets opened (~30% of the population) but only ~30% of MERCHANT wallets active in 2023, circulation ~B$1.8m after four years, and a more-than-fourfold fall in wallet top-ups in the first seven months of 2023 once government transfers declined.
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