Sand Dollars
Licking its FTX Wounds, Bahamas Steps Up Push for Digital Fiat
- FTX collapse creates headache for the nation’s CBDC rollout
- Two years after Sand Dollar’s debut, adoption is sluggish
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Before FTX Co-Founder Sam Bankman-Fried made the Bahamas synonymous with the crypto crash, the country was known as a pioneer of digital fiat.
In 2020, the island nation launched the world’s first central bank digital currency, or CBDC, called the Sand Dollar.