A bellwether moment was reached in October last year when the Central Bank of the Bahamas became the first body with authority over public money to issue a nationwide, retail central bank digital currency (CBDC). The ‘sand dollar’, the digital equivalent of the Bahamian dollar, aims to provide inclusive access to regulated payments and other financial services.

The soft launch – there was no fanfare beyond a social media post – may highlight concerns about the risks associated with the project