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PricewaterhouseCoopers (PwC) Bahamas has facilitated the opening of digital wallet accounts for all of its employees as part of its digital transformation drive.
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.
BAHAMIAN regulators yesterday warned that digital assets remain “volatile” despite having significant potential to transform this nation’s financial services industry.
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.
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’.
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.
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”.
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.
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,
THE Bahamas can “set the global standard” for digital currencies if it can get more businesses and consumers “on board” with its use, a Royal Bank of Canada (RBC) executive is arguing.
Bahamian companies must give themselves a “plus or a boost” amid the COVID-19 pandemic through establishing a sustainable digital component to their operations. Ricardo McHardy, lead digital marketer for Island Business Media, told Tribune Business:
As the Central Bank moves toward creating a digital currency, one local businessman has suggested it could be backed with The Bahamas’ natural resources to further increase its value.Wayne Johnson told Tribune Business: “Taking the Bahamian dollar di
The Prime Minister yesterday pledged the Government’s full backing for efforts to help The Bahamas “leapfrog” into the digital assets space.
The Bahamas has “an incredible opportunity to reclaim lost ground and be part of finance’s new frontier”, digital asset specialists argued yesterday, as they hailed the Government’s release of its “vision” for the $3trn industry.
The Bahamas cannot afford to be “on the outside of this digital assets revolution looking in”, the attorney general asserted yesterday, adding that the Government’s just-released policy paper positions the country to be “a leader”.
The Bahamas will likely have “to fight” the European Union (EU) and Organisation for Economic Co-Operation and Development (OECD) to preserve its digital assets leadership, the Opposition’s leader warned yesterday.
A Bahamian digital payments provider yesterday said it expects to increase the collective value of transactions it processes by 67 percent this year to $100m as it unveiled a “world first”.
Enhanced data and intellectual property rights protection will be "critical" to expanding The Bahamas' digital economy, a senior Chamber of Commerce executive advocated yesterday.
A former International Monetary Fund (IMF) expert yesterday warned The Bahamas against allowing its Sand Dollar digital currency to compete with the commercial banks on interest rates.
Scotiabank (Bahamas) has hosted a webinar attended by more than 100 small and medium-sized businesses to help them prepare for the transition to digital banking.