Bahamas exploring ‘early introduction’ of CBDC

Central Bank of the Bahamas — Photo: Mikael Latreille

- Central Banking Newsdesk
- 25 Oct 2019

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The Central Bank of the Bahamas is exploring the idea of fast-tracking a digital currency pilot – dubbed Project Sand Dollar – to tests its emergency features in the aftermath of hurricane Dorian.

The Bahamas has been experiencing the direct impacts of climate change, both in “frequency and intensity” of hurricanes, governor John Rolle said in an October 24 speech. In August, the islands were hit by hurricane Dorian, causing widespread economic damage.

Dorian dealt significant damage to Abaco

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