The next expansion of the country’s digital currency will require integration with government systems and the introduction of a fast payment system (FPS), Governor of The Central Bank of The Bahamas (CBOB) John Rolle said on Monday.
Rolle made the comments while speaking to reporters during his quarterly media briefing.
He said while the CBOB is making progress on the Sand Dollar – The Bahamas’ digital currency – the integration with the fast payment system that is being developed will be a key component of the digital currency framework.
In November, the Central Bank issued a request for proposals (RFP) to find qualified firms to bid on the development of an FPS. The CBOB said an FPS is aligned to the government’s efforts to improve payment efficiency through its Payments Systems Modernization Initiative (PSMI).
