Bahamas will launch a national digital currency in October

The central bank of the Bahamas islands will release their own digital currency Sand Dollar next month.

According to Bloomberg, immediately after the issuance of the Central Bank will begin to distribute sand dollars among individuals and legal entities. They will be released as they demand and only instead of the physical banknotes derived from the turnover.

Developers adapted the system for the geographic features of the country, including the ability to make mobile payments offline mode to make it available and convenient even for residents of the remote Islands of the archipelago.

During the project testing in December 2019, the Central Bank of Bahamas released 48 thousand sand dollars, secured 1: 1 local currency (Bahamas).

To develop the channel, your support is important to us, subscribe to the channel and put like.