Bahamas central bank prepares national Sand Dollar push this summer

Bahamas central bank prepares national Sand Dollar push this summer

The Bahamas is beginning a push for national digital currency adoption this summer, the central bank’s governor, John Rolle, said. The Central Bank of the Bahamas is preparing a national push for its digital currency this summer to get more Bahamians signing up for the Sand Dollar.In another move toward the adoption of the Bahamas’ central bank digital currency, the CBOB is now focused on connecting mobile Sand Dollar wallets with commercial banking systems,…

Read more

Eastern Caribbean Central Bank’s CBDC Could Beat China to the Punch in 2020

Eastern Caribbean Central Bank’s CBDC Could Beat China to the Punch in 2020

The CBDC race has long been on, and some countries might finish sooner rather than later. The race for central-bank digital currencies has been on for some time now, and since the development of the digital yuan may have been postponed due to the coronavirus pandemic, other countries could beat China to the punch.Almost exactly one year ago, the Eastern Caribbean Central Bank and Bitt Inc. — a financial-technology company based in Barbados —…

Read more

World Economic Forum Debuts Framework for Central Bank Digital Currency

World Economic Forum Debuts Framework for Central Bank Digital Currency

The World Economic Forum has released a toolkit for policymakers regarding the creation of central bank digital currencies. The World Economic Forum (WEF) — together with some of the world’s major central banks — has created a central bank digital currency (CBDC) policymaker toolkit.According to an announcement  on Jan. 22, the toolkit is the WEF’s attempt to help policy-makers understand whether deploying a CBDC would be advantageous and guide them through its design.The WEF…

Read more

China’s Central Bank Completes Top-Later Design and Joint Tests of Planned CBDC

The central bank of China has completed the top-layer design and joint testing of its soon-to-be-released central bank digital currency. The central bank of China has completed the top-layer design and joint testing of its soon-to-be-released central bank digital currency (CBDC).As domestic news outlet Sina reported on Jan. 10, People’s Bank of China (PBoC) accomplished the top-layer design of the planned digital yuan, developed relevant standards, carried out research and development and a joint…

Read more