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Bahamian residents will now be able to pay for government services with the new digital Sand Dollars.
The Central Bank of The Bahamas’ Sand Dollar roll-out has reached a new milestone for the Government’s digital transformation, after a successful round of testing within the Bahamas Digital Payment Platform, also known as DigiPay.
The country’s digital currency was used as payment for a character certificate (police record) at the Royal Bahamas Police Force this week and passed all phases of the testing without incident.
As a result, the central bank will begin integrating other agencies throughout the government into the Sand Dollar ecosystem.
Minister of state for finance Kwasi Thompson said, “The Government’s push towards a more digitised Bahamas is continuing to take shape with this exciting development. With DigiPay, we are modernising the way Bahamians pay for government services, improving the efficiency, access and security of payments by means of digital innovation.”
He added that this step establishes The Bahamas as a world leader in central bank digital currency.
According to director of the revenue audit and cash management unit at the Ministry of Finance Nicole Reilly, phase two, which is slated for September 1, will encompass government expenditure payouts in Sand Dollars throughout the cash districts of Southern Bahamian islands.
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