Crypto in George Town, Exuma, where Sand Dollar began

George Town has a big place in Bahamian money history. In December 2019 the Central Bank picked Exuma for the first phase of Project Sand Dollar, the world’s first nationwide retail central bank digital currency pilot. Today the town shows the other side of island finance: banks have pulled back, cash can be hard to find, and there is no crypto ATM, crypto shop or Bitcoin merchant on any map we checked. Here is what does work, as of October 2026.

Where Sand Dollar began

The Central Bank announced the Exuma pilot on 24 December 2019, extended it to Abaco in 2020 and launched nationally in October 2020. About B$10,910 in promotional Sand Dollars went out at the Belleville Exuma Homecoming and Regatta in August 2022, and Sand Dollar was a featured payment at the 79th Rolleville Regatta (3–7 August 2023).

How George Town lost, and partly regained, its banks

Bank of The Bahamas gave notice of its Exuma closure in October 2017. Scotiabank still had a George Town branch in March 2020, then consolidated its Exuma operations into New Providence from late 2020; Eyewitness News reported the Chamber’s fear that Scotia’s exit would hit half the island’s banking customers. By October 2021, Chamber president Pedro Rolle told The Tribune the island had “one bank that has a physical presence, and that is RBC”, having lost two-thirds of its branches.

Fidelity’s November 2023 “service branch” is run with CashNGo, a Sand Dollar wallet provider registered with the Securities CommissionSCB The Securities Commission of The Bahamas, the regulator that registers and supervises crypto businesses under the DARE Act. Glossary for digital asset custody. Neither sells crypto, but George Town now has a second place to open an account. In December 2024 Island Pay’s owners said they planned 100 to 120 ATMs and kiosks across the Family Islands, starting with Exuma once the GNX trunk cable arrived on 12 January 2025. We could not confirm any have been installed.

What your Exuma bank means for buying crypto

With two banking options, the account you hold decides your cheapest route. Turning Bahamian dollars into crypto means buying foreign currency, so you pay 1.5% stamp dutyStamp duty (FX) A 1.5% government tax on converting Bahamian dollars into foreign currency, charged by your bank. Glossary on the conversion and you fall under exchange controlExchange control Central Bank rules on residents moving Bahamian dollars into foreign currency or foreign assets. Crypto is treated as a foreign asset. Glossary, because the Central Bank treats crypto as foreign property. Since 1 June 2024 banks can approve up to B$100,000 of overseas investment per person themselves.

On a B$200 card purchase, RBC adds about B$5 plus B$3 stamp duty before the exchange’s fee; a Fidelity card adds only the stamp duty. From about B$2,000, Fidelity’s B$49.50 minimum wire beats any card in percentage terms. Our card guide explains declines, and Bahamian banks and crypto covers wires and the investment rules in full.

Yachts in Elizabeth Harbour: notes for visitors

Many cruising yachts anchor in Elizabeth Harbour, and Exuma International has direct flights from Miami, Fort Lauderdale, Atlanta, Charlotte, Toronto and Nassau. Most visitors already have a foreign bank and an exchange account at home. Bahamian exchange control applies to residents, so a visitor’s home card works as it would anywhere, subject to the exchange’s own country rules.

Cash is the real constraint. We could not count George Town’s ATMs; one 2026 travel guide suggested Exuma may have only one or two. Bring US dollars, which shops take one for one. A Tier I Sand Dollar wallet is open to visitors without ID (B$500 holding, B$1,500 a month). For receiving money, GraceKennedy Money Services was reported to operate as a Western Union agent at Forbes’ D&Z Customs Brokerage in George Town.

Step plan: buying crypto from George Town

1. 01

   Pick the bank you will fund from

   Fidelity lists no foreign card fee and no incoming wire charge; RBC charges 2.50% on cards. Open accounts in person while you are near a branch.

2. 02

   Verify your identity while you have a strong signal

   Exchanges ask for ID documents and a selfie. Upload them on good Wi-Fi, not out in the cays.

3. 03

   Make a small test purchase

   Buy B$20 to B$50 to confirm your card works and see the real total.

4. 04

   Move long-term coins to your own wallet

   Keep your seed phrase (backup words) on paper or metal, above storm-surge level. Our wallet guide covers hurricane-proof backups.

5. 05

   Plan your cash-out before you need it

   No stamp duty applies when US dollars come back in and become B$. See selling crypto in The Bahamas.

If someone offers crypto for cash, use a platform with escrowEscrow A neutral holding arrangement: the platform locks the seller’s crypto and releases it only when the seller confirms your payment arrived. Glossary and read our peer-to-peer guide first. Heading to the capital? Our Nassau page covers its bank network, and the island-by-island guide compares Exuma with its neighbours.

Keep exploring

All islands Pick your island on our interactive map to see banks, cash access, Sand Dollar merchants and pra… Read guide Other Family Islands On islands with no bank branch, crypto runs on your phone. A practical guide for Long Island, In… Read guide Sand Dollar & crypto Tier limits, wallet providers and why there is no direct Sand Dollar-to-Bitcoin swap. Read guide Banks & exchange control Wire fees, card surcharges and the 1.5% stamp duty, bank by bank. Read guide