The digital currency is called the “Sand Dollar” with the pilot offering dubbed Project Sand Dollar. The announcement states that the pilot is currently only in the Exuma district of the Bahamas. However, the Sand Dollar will spread to the Abaco Islands sometime in the first half of 2020.
The Central Bank states that this is another plan to further its Bahamian Payments System Modernization Initiative (PSMI). The PSMI kicked off back in the 2000s.
Kryptomoney first reported plans for a Bahamian digital currency in June 2018.