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PwC opens digital wallets for all staff
PricewaterhouseCoopers (PwC) Bahamas has facilitated the opening of digital wallet accounts for all of its employees as part of its digital transformation drive.
Digital assets legislation to 'expand playing field'
The deputy prime minister yesterday hailed new legislation as "expanding the playing field" for the Bahamian financial services industry into the digital assets and technology space.
Regulators: Digital assets still volatile
BAHAMIAN regulators yesterday warned that digital assets remain “volatile” despite having significant potential to transform this nation’s financial services industry.
Commission unveils DARE overhaul - no FTX mention
The Securities Commission last night unveiled its long-awaited overhaul of The Bahamas’ digital assets regulatory regime although there was no mention of, or reference to, the recent FTX implosion.
Commission 'content' to hand over $426m FTX digital assets
The Securities Commission plans to seek Supreme Court approval to transfer some $426m worth of digital assets it is safeguarding into the care of the liquidators for FTX's Bahamian subsidiary.
Digital to become 'dominant part' of RF group's plans
A Bahamian-headquartered investment bank's top executive yesterday predicted digital assets will eventually become "a dominant part of our business" as it unveiled its tie-up with a technology provider.
ART OF GRAPHIX: The Picture across the digital divide
Is ‘film photography’ superior to ‘digital?’ Read any print or online photography magazine and you would think that digital photo capture just might be the ‘second coming’.
Digital is financial future in Bahamas
With the rise of smartphone adoption across the Caribbean, many industries have sought innovative ways to engage consumers by digitising their services. The banking industry is no different, as companies seek to establish future financial trends. As proven by the launch of the Sand Dollar, the world’s first Central Bank Digital Currency (CBDC), the Bahamas’ financial services sector is now looking to transform its legacy infrastructure by going digital to improve its security, lower costs and grow the customer base. Initially rolled out in Exuma and Abaco, as of March 2021, nine digital wallet providers circulated $130,000 worth of digital Bahamian dollars throughout the entire archipelago.
Marrying blockchain with carbon trading
The Government’s newly-released digital assets policy proposes employing blockchain technology to help record the trading of Bahamian carbon assets and the activities of a wider “Caribbean market”.
Central Bank: 1,250% digital asset capital not ‘excessive’
The Central Bank yesterday rejected assertions it is being “excessive” in requiring licensees to hold 12.5 times’ the amount of capital involved to back trades of non-stablecoin digital assets.
Bahamas 'DARES' to enter digital industry
The level of interest from digital asset entrepreneurs in using The Bahamas for token issues and other ventures "mandated" this nation move swiftly on a supervisory regime, a top regulator said yesterday.
FINCO chief: 95% of local transactions done digitally
RBC FINCO’s top executive says Bahamians are beginning to embrace a digital future with 95 percent now conducting their financial transactions electronically.
Bahamas liquidators detect ‘serious fraud’ signs at FTX
FTX’s Bahamian provisional liquidators have yet to gain control of all its assets amid signs that “serious fraud and mismanagement” may have caused the group’s collapse, it has been revealed.
KEITH ROYE II: Embrace digital change to drive long-term growth
The COVID-19 pandemic was a catalyst for digital transformation, pushing companies to rethink their strategies and adapt to rapidly changing circumstances. As we transition into a post-pandemic world, it is important to reflect on the lessons learned and explore the future direction of digital transformation.
FTX Bahamas demanding $9.15bn from US affiliates
FTX’s Bahamian liquidators are seeking to recover a total $9.15bn from the crypto exchange’s US entities with some 84 percent of this sum involving assets that were “misappropriated” prior to its late 2022 collapse.
Digital B$ 'no panacea' with unreliable BPL
A digital Bahamian dollar is “no panacea” for this nation’s financial inclusion issues, the IMF has warned, especially if unreliable power supply continues to plague the Family Islands.The International Monetary Fund (IMF), in its Article IV report,
Central Bank wants stricter due diligence to stop another FTX
The Central Bank of The Bahamas has called for stricter due diligence on the transfer of funds in the wake of the FTX collapse.
PM: FTX ‘lessons learned’ will make Bahamas better
The Prime Minister yesterday pledged that “the lessons we learned” from the FTX crypto exchange’s collapse will enable The Bahamas to better strengthen its regulatory regime and emerge as a regional digital assets hub.
Bahamian liquidators fire FTX warning shot
FTX’s Bahamian liquidators yesterday warned their US counterparts that the failed crypto exchange’s $446m claim against another digital assets firm will not be resolved unless their interests are satisfied too.
$13.4bn flowed through FTX Bahamas accounts
Some $13.4bn flowed through FTX's Bahamas accounts in the ten months immediately prior to the crypto exchange's collapse, its liquidators revealed yesterday, as they sought to dispel allegations it was "a nullity".
