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Bahamian small businesses told: Embrace e-commerce
BAHAMIAN small and medium-sized businesses must embrace digital payments and transactions if they are to properly participate in the tourism industry and wider global economy, a provider says.
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FTX liquidators prevent $8m GoldWynn 'forfeit'
FTX's Bahamian liquidators prevented a near-$8m loss by completing the acquisition of eight condo units in the GoldWynn development at Goodman's Bay, it has been revealed.
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‘Creatures of evolution’: Digital firm to top $130m
A Bahamian digital payments provider yesterday predicted it will this year “top” the $130m worth of transactions it settled in 2021, and said of this shift: “This is not going to be the norm; it is the norm.”
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FTX attorney: Be ‘thrilled’ at digital asset feedback
A former Cabinet minister yesterday said the private sector “should be thrilled that the Government has institutionalised” how it will be consulted on the future evolution of the digital assets industry.
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‘Foolhardy’ if BISX to neglect digital assets
The Bahamas International Securities Exchange (BISX) is “actively pursuing opportunities” in digital assets, its chief executive disclosed yesterday, adding: “We’d be foolhardy to do otherwise.”
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FTX implosion threatens perfect ‘40 of 40’ in financial crime fight
The Bahamas’ bid to achieve full compliance with all global anti-financial crime standards before year-end may have been endangered by the implosion of the FTX crypto currency exchange, it can be revealed.
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BISX names digital exchange partner
The Bahamas International Securities Exchange (BISX) yesterday identified its partner for the launch of a digital securities exchange as BRX Holdings, a financial technology (FinTech) firm.
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BAHAMAS REBUTS FTX ACCESS CLAIMS: Securities Commission given lawful permission to transfer assets to ‘a safer space’
The Securities Commission last night debunked accusations the Government “directed unauthorised access” to FTX’s systems, and aided the withdrawal of digital assets, in violation of Bahamian and US court orders.
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FTX’s Bahamas liquidators slam ‘inflammatory’ claims
FTX’s Bahamian liquidators yesterday slammed their US counterparts for “bizarre” and “inflammatory” claims while they themselves were accused of seeking to “torpedo” the Chapter 11 proceedings for the failed crypto exchange.
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‘FTX BAHAMAS CHIEF CONFESSED TO FRAUD’: Securities Commission director says admission led to liquidation move
The head of FTX’s Bahamian subsidiary sparked an “urgent” police probe into possible criminal misconduct when he confessed to local regulators about the misuse of multi-billion dollar client funds.
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Sand Dollar firms expanding to nine
The Central Bank says a total of nine firms will likely be approved to start distributing Bahamian digital dollars, thereby significantly increasing their availability to the public, by early 2021.
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New digital payment provider bar extended until end-2021
Digital payments providers yesterday forecast "significant growth" for the sector next year as the Central Bank confirmed that the bar on new market entrants will remain in place until end-2021.
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FTX wind-up faces stall absent ‘claw back’ rule
FTX’s Bahamian liquidators say they need the Supreme Court to determine who the local subsidiary’s customers truly are so they can “claw back” preferential payments and prevent the winding-up from “stalling”.
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Half of businesses yet to launch online
More than half the Bahamian businesses surveyed by the Chamber of Commerce and Employers Confederation (BCCEC) have yet to launch an e-commerce platform, it was revealed yesterday.
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Digital provider facilitates over $200m in payments
A BAHAMIAN digital payments provider yesterday said it has processed more than $200m in transactions since its launch after expanding to a 35,000- strong user base.
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Digital payments provider eyes ‘tremendous growth’
A Bahamian digital payments provider yesterday said it is expecting “tremendous growth” as the volume of electronic transactions continues to increase amid the COVID-19 pandemic.
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Gov't expands digital platform roll-out drive
The Government is developing digital platforms to automate the Cabinet Office's functions and to handle the planning process at the Ministry of Works.
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Bahamas must ‘levitate’ above digital evolution
The Bahamas “needs levitation devices” to rise above the rapidly-evolving digital assets space so that regulation lands wherever the “ground shifts”, a prominent banker is arguing.
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Come to Bahamas, PM tells digital asset firms
The Prime Minister yesterday urged digital asset firms to consider establishing a physical presence in The Bahamas while hailing the “transformative” impact the sector will have for all industries and the wider economy.
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Central Bank unveils digital B$ restrictions
The Central Bank has unveiled the limits it will impose on Bahamian digital currency holdings to protect financial stability and prevent “runs on bank deposits”. The regulator, in a paper on the Project Sand Dollar initiative to create a Bahamian di
