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Press Release: Public Update on The Bahamas Digital Currency - SandDollar

Published: Friday September 8th, 2023


The Central Bank of The Bahamas continued its SandDollar outreach across Exuma, Grand Bahama, and New Providence during August. The SandDollar rebate program remained an essential aspect of adoption efforts and was introduced to AML Foods Ltd. (Solomon’s Food Stores and Fresh Markets) in New Providence, with similar opportunities extended to Exuma and Grand Bahama.

Ongoing Technical Upgrades

Developments and related beta testing continue for the Central Bank’s original SandDollar mobile wallet. The enhanced mobile app will provide a number of self-service tools and features to improve user satisfaction. These features will begin to be available to wallet users early in the fourth quarter of 2023.

Mobile Payments Data

Diminished levels of Government transfer payments continued to influence comparative mobile payment trends. Absent these transfers, wallet top-ups were approximately four-fifths lower, at an estimated $8.7 million in the first half of 2023, having a similar sized impact on reduced cash withdrawals from mobile wallets. Although less impacted, the number of person-to-person (P2P) transactions narrowed by 20.5% in comparison to the same period a year earlier. Moreover, the aggregate value of person-to-business (P2B) and business-to-business (B2B) transactions fell by 18.6% to an estimated $4.0 million in June. The majority of transactions processed continue to be in SandDollars.

SandDollar Outreach Activities

The Central Bank’s digital currency rebate campaign was extended to Solomon’s Food Stores and Fresh Markets, starting on 3rd August 2023. During each selected day of the campaign, the first 100 consumers arriving at the establishment with an activated SandDollar-enabled digital wallet received a $20 top-up. Upon exit, customers who had spent $18 or more SandDollars inside the store received an additional $5 top-up (rebate). The promotion, which rotated among various Solomon’s locations, ended on 25th August 2023 and was supported by the initial team of SandDollar Ambassadors.

In August, the SandDollar rebate campaign was also extended to Sawyer’s Fresh Market and the RayVin Mall in Freeport, Grand Bahama. At the same time, patrons of Exuma’s Rolleville Regatta and Homecoming Festival benefited from a similar programme.

In the coming months, outreach activities will continue in the Family Islands. In this regard, the Central Bank will begin to organise with the Government to expose unbanked, cash payment districts to the digital currency.

Table 1. General SandDollar Statistics August 2023



SandDollars in circulation


Number of approved digital wallet providers


Active digital wallet providers


Number of consumer wallets


Number of merchant wallets



Table 2. Promotional SandDollar Distribution Tracker



Amount ($)

Rolleville Exuma Homecoming and Regatta

August 2022


International Culture Wine and Food Festival

October 2022


Bahamas National Trust Wine and Art Festival

October 2022


Bahamas National Trust Jollification

November 2022


Salvation Army’s Red Kettle Campaign

December 2022


Bahamas Red Cross Society Ball

January 2023


Financial Literacy Fair

April 2023


On The Clock | Guardian Radio Trivia Prizes

Apr – Sep 2023


Bahamas Red Cross Society Fair

April 2023


Family Island Engagements



SandDollar Rebate Program







Running Total



Table 3. September 2023 Calendar of SandDollar Engagements




1 – 30 September

M – F | 10 – 11 a.m.

12 September

10 – 11 a.m.

On the Clock with Erin Greene Sponsorship

In-studio appearance

Guardian Radio 96.9 FM.

SandDollar education. Questions and answers.

18 – 22 September


Family Island Engagement: Abaco


Rebate incentives and educational meetings with targeted merchants.

25 – 28 September


Family Island Engagement: North and Central Andros

Rebate incentives and educational meetings with targeted merchants.


Table 4. New SandDollar Merchants

  1. AID Bahamas (Wulff Road), New Providence
  2. Bayside Service Station, Cartwrights, Long Island
  1. Hillside Food Supply, Salt Pond, Long Island
  2. Sawyer’s Fresh Market, Freeport, Grand Bahama
  3. YEP Bahamas, New Providence

Note: A complete list of merchants accepting the Bahamian digital currency is posted on the SandDollar website ( This table features select businesses.