Mastercard Unveils Card Linked To Bahamas' Digital Currency

By Elise Hansen (February 17, 2021, 4:06 PM EST) -- In a first of its kind arrangement, Mastercard has partnered with the Central Bank of the Bahamas and payment provider Island Pay to launch a prepaid card linked to the country's digital currency, Mastercard said Wednesday.

Bahamian residents can use the card to convert the digital Sand Dollar to traditional Bahamian dollars, or to use the digital currency as payment at any location that accepts Mastercard, the announcement said. The digital Sand Dollar is issued by the Bahamian central bank, part of a burgeoning movement around central bank digital currencies, or CBDCs.

The Sand Dollar has the same value and protections as...

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