The Bahamas, the pioneering nation in issuing a central bank digital currency (CBDC) known as the Sand Dollar, is set to introduce regulations to boost its adoption.

Central Bank Governor John Rolle announced that within the next two years, commercial banks will be required to facilitate access to this digital currency.

The aim is to enhance the usability and uptake of the Sand Dollar across the country.

Governor Rolle emphasised the importance of this initiative, noting that the Central Bank has already started communicating these upcoming changes to relevant stakeholders.

The regulations are part of a broader strategy to integrate digital currency into everyday financial transactions.

As the first country to launch a CBDC, the Bahamas is keen to ensure its successful implementation and widespread use.