Following cybersecurity assessments, commercial institutions are being cleared to issue the world’s first CBDC — the Bahamas’ Sand Dollar.
The Central Bank of the Bahamas has announced that its central bank digital currency, the Sand Dollar, is expected to achieve full interoperability between its various wallet providers within the week.A recent statement released by the CBoB revealed that Authorised Financial Institutions such as payments service providers are expected to be finalized within the coming days. Essentially acting as wallet providers and prospective issuers of the Sand Dollar, the AFIs in question have been subject to rigorous cybersecurity assessments, the bank stated. Those institutions which adopted the bank’s own app have already been cleared to participate, while those which intend to use their own proprietary apps are still being processed. A deadline of March 31, 2021, is expected to be met.In Octob
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