The Sand Dollar is a pioneering digital currency initiative launched by the Central Bank of The Bahamas. Rolled out nationwide in October 2020, it was the world's first government-backed digital currency. The project's mission is to enhance financial inclusion and efficiency across the more than 700 islands of the Bahamian archipelago, where physical cash distribution can be difficult and costly. The Sand Dollar is pegged 1:1 to the Bahamian dollar (which is in turn pegged to the US dollar) and facilitates secure, instant digital payments for individuals and businesses through authorized financial institutions and mobile wallet applications.

Founded in

United States