When it comes to developing central bank digital currencies (CBDCs), the international focus has been on China, Europe and North America – but it appears that one small Caribbean nation has stolen a march on both Asia and the West, with a digital currency to be issued next week already being lined up for use in international transactions.
Per the Nassau Guardian, the Central Bank of The Bahamas (CBOB) has claimed it is aiming to make the new CBDC, the Sand Dollar, “interoperable” with international fiats.
The media outlet quoted Bobby Chen, the CBOB’s assistant manager of electronic solutions, as stating,
“That’s a key strategy that we’re working on […] It would allow the movement of Sand Dollar to and from your bank account, which would then convert to fiat as it hits your bank account.”
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