Bahamas

The post Central Bank of Bahamas Sets 2-Year Target To Integrate Sand Dollar CBDC Into Commercial Banks appeared first on Coinpedia Fintech News The Central Bank of Bahamas has set a two-year goal to integrate the Sand Dollar CBDC fully into commercial banks, to boost its adoption. Commercial banks must adjust their IT systems to adapt to the new requirements as the integration progresses. The strategy adopted by the Bahamas reflects a growing global trend where central banks are looking…

Former FTX Digital Markets co-chief executive Ryan Salame has agreed to transfer his multimillion-dollar property in the Bamas as part of a plea agreement in his case. The move comes after Salame pleaded guilty to criminal charges in September 2023, and his plea agreement required him to pay $5.6 million in restitution to the debtors. The Property Transfer According to a motion filed by FTX Trading Ltd and affiliated debtors with the United States Bankruptcy Court for the District of…

As new developments emerge pertaining to the failed exchange, FTX continues to take hits from various sides. The latest blow to Sam Bankman-Fried’s crypto empire is an order from the Supreme Court of Bahamas, where the company was based. Likewise, FTX's impressive roster of ambassadors is now under scrutiny from regulators. FTX to Cover Asset Custody Costs FTX now must reimburse the Securities Commission as the regulator took custody of the platform’s assets after its bankruptcy filing. Indeed, on Nov…

The President of the European Central Bank (ECB), Christine Lagarde, has stated that the regional Bank is considering launching a Digital Euro. This, according to her, is due to the immense growth and development in the digital ecosystem. In a series of tweets, Lagarde revealed the European Central Bank's achievements over the past 12 months. This included the launch of the European Central Bank Strategy Review (ECBStrategyReview). She also spoke on her viewpoint on climate change and the news to…

The Central Bank of the Bahamas (CBOB) today officially introduced its own central bank digital currency (CBDC), the “Sand Dollar.” This makes the Bahamas one of the first countries in the world to launch a CBDC beyond a pilot program. The information was shared during a webinar broadcast on Facebook via the dedicated Sand Dollar page. Today, the 386,000 inhabitants of the archipelago can create a digital wallet on their smartphone and carry out transactions. The entire Sand Dollar ecosystem…

The cryptocurrency revolution is in full swing, and countries worldwide are racing against time and each other to implement it. While everyone had their sights on China and the United States, the Bahamas' tiny nation island announced that they would launch its digital currency in October 2020. The “Sand Dollar” of the Bahamas will most likely be the first central bank digital currency (CBDC) worldwide. Many years from now, when most of the planet’s nations will boast their well-established CBDCs,…