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Payment provider targets 25-30% digital user growth
A Bahamian payments provider yesterday disclosed it is targeting “manageable” annual growth of 25-30 percent in digital wallet users while pledging to do its part in reducing the “fear” surrounding electronic transactions.
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AG: Digital Bill meets obligations under law
ATTORNEY General Ryan Pinder said yesterday the Digital Assets and Registered Exchanges Bill 2022 fulfils both local and international obligations, while seeking to strengthen the economic regime that will bolster the middle class of the country.
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Bahamian digital asset move drives job creation
The Bahamas’ entry into the digital assets space has created at least 30 jobs, and pumped over $5m into the economy, by attracting new broker/dealers and cryptocurrency exchanges to this nation, a financial provider says
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‘Be ready for international attacks over digital role’
A financial analyst warns that international “attacks” on the financial services sector should be expected as the country’s involvement in the digital assets and cryptocurrencies business develops.
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The world leading sand dollar
ActivTrades
LAST year The Bahamas became a global leader in e-money, after launching its own Central Bank Digital Currency (CBDC), the Sand Dollar, ranked number one in the PwC Global CBDC Index. A remarkable achievement for the nation, that captured headlines around the world. But what is a CBDC? Should other nations follow the example of The Bahamas? Why not instead adopt an existing cryptocurrency, like bitcoin, for example, like El Salvador did?
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Digital assets are no ‘silver bullet’ to rescue economy
A Cabinet minister and a member of the Government’s Digital Advisory Panel have both warned that digital assets are not a “silver bullet” that will rescue the Bahamian economy by themselves.
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RBC: $20 ATM halt part of digital drive
A senior Royal Bank of Canada (RBC) executive yesterday confirmed it has stopped issuing $20 notes through its automated teller machines (ATMs) as part of efforts to drive Bahamians towards digital banking.
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$1m initiative targeting Gov’t sector ‘pain points’
The Government is seeking to eliminate ease of doing business “pain points” in the public sector through a $1m digital solutions grant funding scheme that also aims to boost Bahamian innovation.
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Bahamas to tackle corporate tax demands ‘in near future’
A Cabinet minister has pledged that The Bahamas will address demands for a 15 percent minimum global corporate tax and greater transparency “in the near future”.
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DEREK SMITH: ‘Digital transformation’ - The second part is key
Every company has been forced to reinvent itself, or re-evaluate how it does business, due to a digital evolution that some might call a revolution. Large companies have invested substantial resources in what is usually referred to as “digital transformation”. However, a problem occurs when they undertake a digital transformation plan without a clearly defined vision of what this should entail.
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Digital assets ‘shot in the arm’ sparks accountants to reunite
The Bahamas’ entry into the digital assets space sparked two well-known accountants to speed up their reunion after a decade apart by merging their two firms with effect from yesterday.
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Sand Dollar circulation trebles
The Bahamas’s digital currency, the Sand Dollar, nearly trebled in circulation in 2020.
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Census to be completely digital
THE upcoming census will begin on April 5 and will be completely digital, officials said yesterday.
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Bahamas sees $715m gain if ‘infrastructure gap’ closed
The Bahamas stands to gain a $715m boost if it invests just $31m to close the “digital infrastructure gap” between itself and the world’s leading economies, a multilateral lender is arguing.
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Bank fees: CIBC and Fidelity are cheapest
CIBC FirstCaribbean charges the lowest fees for student and retiree savings accounts, the Central Bank revealed yesterday, with Fidelity Bank (Bahamas) largely leading the field on adult facilities.
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DPM ‘not concerned’ on Fintech regulatory threat
The Deputy Prime Minister says The Bahamas is “not concerned” about the potential threat of increased international regulatory pressures and scrutiny due to the growth of its digital assets industry.
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Gov’t’s ‘Fintech festival’ aiming to attract 3,000
The Government is planning to stage an “international Fintech festival” that will attract 3,000 industry executives to The Bahamas early next year and further boost this country’s digital asset ambitions.
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Entrepreneurship Centre to boost digital transition
Grand Bahama’s Centre for Entrepreneurship and Innovation will benefit thousands of Bahamians by equipping them with the skills to exploit the fast-evolving digital economy.
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GOING GLOBAL: PM hails potential of crypto industry for The Bahamas
PRIME Minister Philip “Brave” Davis said the arrival and presence of FTX underscores the “readiness of The Bahamas to be a home for global leaders in the crypto space.”
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Bill, Tony and Tom to elevate digital ‘front runner’ Bahamas
A former US president and ex-UK prime minister, plus a record-breaking Super Bowl winner, are heading the speaker line-up at a conference that will next week seek to elevate The Bahamas’ position as a digital assets “front runner”.
