Bahamas ranked first for retail CBDC development, according to PwC
Countries like the Bahamas and Thailand are on the leading edge of CBDC development, according to a new research report. A new ranking of global central bank digital currencies, or CBDCs, places the Bahamas at the top of the leaderboard in terms of retail applications – offering an important glimpse in the race to issue government-backed cryptocurrencies.In its 2021 CBDC Index, global consulting firm PwC surveyed the level of central-bank maturity in deploying cryptocurrencies based on two factors: retail applications and interbank applications. Retail applications refer to CBDCs that can....
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The report by PwC shows that 80% of central banks are considering or have already launched a CBDC. More than 80% of central banks are interested in launching a Central Bank Digital Currency (CBDC) or have already done so according to research conducted by accounting firm PwC.The second annual Global CBDC Index report released on Monday, April 4, measures a central bank's level of maturity in deploying its own digital currency. The report also included an overview of stablecoins for the first time.Haydn Jones, Blockchain and Crypto Specialist at PwC U.K. stated in the report that “over 80%....
This makes The Bahamas one of the first countries in the world to officially launch a CBDC beyond a pilot program. The Central Bank of the Bahamas has announced the country’s “Sand Dollar” — a state-backed virtual currency — is now available nationwide.According to an Oct. 20 Facebook post from Project Sand Dollar, the central bank digital currency (CBDC) became available to all 393,000 residents of The Bahamas from roughly 10:00 PM UTC. This makes The Bahamas the first country in the world to officially roll out a CBDC. China is currently testing a pilot program for its digital yuan with....
The Retail CBDC will be tested in a limited retail environment with 10,000 participants and three major banks. On top of its wholesale central bank digital currency (CBDC) projects and proof-of-concept Retail CBDC testing with corporates, the Bank of Thailand (BOT) will extend the scope of CBDC development aimed at retail to a pilot phase. A possible real-life application of the "Retail CBDC" will be conducted inside the private sector on a limited scale. As the Aug. 5 announcement on the official page of the BOT goes:“The BOT will assess the benefits and associated risks from the Pilot to....
The Central Bank of the Bahamas partnered with Mastercard and digital payment startup Island Pay to launch a card for its central bank digital currency. The Bahamas is moving to make its national digital currency more accessible by launching a prepaid card for the “sand dollar.”The Central Bank of The Bahamas has partnered with global payment giant Mastercard and local payment startup Island Pay to create a card that supports the sand dollar central bank digital currency.According to a Wednesday announcement, the card is running under a new program from Mastercard and Island Pay, allowing....
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, CBOB Governor John Rolle announced.According to a Wednesday report by the Nassau Guardian, Rolle said that the Bahamian government....