{"id":24169,"date":"2024-07-02T22:00:21","date_gmt":"2024-07-02T19:00:21","guid":{"rendered":"https:\/\/coinengineer.io\/?p=24169"},"modified":"2024-07-02T16:48:25","modified_gmt":"2024-07-02T13:48:25","slug":"bahamas-pushes-banks-to-adopt-sand-dollar","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bahamas-pushes-banks-to-adopt-sand-dollar\/","title":{"rendered":"Bahamas Pushes Banks to Adopt Sand Dollar"},"content":{"rendered":"<p>In an effort to increase adoption, <strong>the Bahamas<\/strong>, the first nation in the world to establish a central bank digital currency, is drafting rules allowing commercial banks to provide access to the Sand Dollar, Reuters reported Monday.<\/p>\n<p>The governor of <strong>the Bahamas<\/strong>&#8216; central bank, John Rolle, told Reuters that the government is developing rules meant to essentially compel commercial banks to issue the Sand Dollar, the CBDC announced in 2020, as use of it remained restricted.<\/p>\n<p>Adding that <strong>the Bahamas<\/strong> authorities have begun to indicate the new regulatory direction to local institutions, Rolle said the central bank expects a scenario <em>&#8220;where all of the commercial banks will eventually be in that space.&#8221;<\/em><\/p>\n<p>Officially starting in October 2020, the central bank of <strong>the Bahamas<\/strong> introduced the Sand Dollar. From the start of the year, the volume of Sand Dollars in circulation increased by 60.8% to $1.7 million as of the end of December 2023, central bank data showed.<\/p>\n<p>Based on central bank data, the number of personal wallets for the Sand Dollar grew by 20% annually to 118,955 by the end of last year.<\/p>\n<p>&nbsp;<\/p>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In an effort to increase adoption, the Bahamas, the first nation in the world to establish a central bank digital currency, is drafting rules allowing commercial banks to provide access to the Sand Dollar, Reuters reported Monday. The governor of the Bahamas&#8216; central bank, John Rolle, told Reuters that the government is developing rules meant<\/p>\n","protected":false},"author":6,"featured_media":24171,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[5178,7128],"class_list":["post-24169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bahamas","tag-sand-dollar"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bahamas Pushes Banks to Adopt Sand Dollar - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bahamas-pushes-banks-to-adopt-sand-dollar\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bahamas Pushes Banks to Adopt Sand Dollar - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"In an effort to increase adoption, the Bahamas, the first nation in the world to establish a central bank digital currency, is drafting rules allowing commercial banks to provide access to the Sand Dollar, Reuters reported Monday. 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