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Unbanked no more: Bahamas launches crypto remittance platform

Unbanked no more: Bahamas Launches Crypto Remittance Platform

Island Pay, a Bahamas-based fintech company, has stepped forward with an innovative solution to address the high costs and challenges associated with traditional remittances. However, the company recently unveiled its digital wallet, “CiNKO,” tailored for users in Latin America and the Caribbean. CiNKO will utilize Circle’s USDC stablecoin as its primary currency, offering an alternative […]

Did FTX use customer funds to buy properties across the Bahamas?

FTX

According to multiple reports, FTX and its executives went on a real-estate buying spree across the Bahamas in the last two years. The company and its associated stakeholders apparently purchased over $300 million worth of real estate across the country since 2020, even though they didn’t have enough funds to cover their liabilities.  The exchange’s […]

The Bahamas to launch its Central Bank Digital Currency in October

bahamas cbdc

The sovereign currency, backed by the Bahamian Dollar on a ratio of 1:1, is dubbed ‘the Sand Dollar’. The nationwide rollout results from successful pilot tests of the digital currency in two islands starting late last year. Transacting with the Sand Dollar is irrevocable and will be done using Payment Service Providers (PSPs) The Caribbean […]

Bahamas CBDC ‘Sand Dollar’ planned for launching in October

bahamas

Bahamas plans to launch CBDC in October Sand Dollar is expected to make payments easier Bahamas CBDC can be transacted using mobile phones The Bahamas is most likely going to be the first country to officially release the national central bank-issued digital currency (CBDC) which is known is ‘Sand Dollar.’ The Bahamas CBDC is coming […]

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