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Central Bank inks deal on cryptocurrency creation

The Central Bank of The Bahamas has entered into an official agreement with NZIA Ltd to design and implement a digital version of the Bahamian dollar. 

Source:
Date:
Updated:
Central Bank of The Bahamas
Wednesday, June 5, 2019
Wednesday, June 5, 2019

The Central Bank of The Bahamas enters into an official agreement with NZIA Limited to design and implement a digital version of the Bahamian dollar.

Exuma Island has been selected to pilot this digital version of the Bahamian dollar. The lessons learnt in Exuma will allow the Bank to deploy the digital currency throughout The Bahamas.


This forward thinking payments system modernisation initiative is part of a strategy to provide an integrated, affordable electronic payment system for all businesses and residents.

Beginning this month, the Bank will interact with the Exuma community – where we will further explain how a digital currency would work, and we will prepare both businesses and consumers for the eventual enrolment process.

As the project evolves, please visit our website and social media pages for updates on this ground breaking advancement for the Bahamian people.

ALT TAG PART OF CAPTION

Pictured: (from left) Jay Joe, Chief Executive Officer – NZIA Limited, Simon Kim, Managing Director – NZIA Limited, John Rolle, Governor – Central Bank of The Bahamas. (Central Bank of The Bahamas Photo)

Source: Central Bank of The Bahamas.

In its latest Economic and Financial Developments report, The Central Bank of The Bahamas has said that preliminary indications are that the domestic economy maintained its modest growth trajectory through April. Read the full report here.

Minister of Financial Services, Trade & Industry and Immigration Brent Symonette, along with members of the Financial Services and Trade unit attended the 2019 Society of Trust and Estate Practitioners (STEP) Miami which was held in Miami, Florida 31 May, 2019.

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