Bermuda Plots 'Fully On-Chain National Economy' With Help From Coinbase and Circle
Bermuda plans to make its entire economy operate on blockchain, partnering with Coinbase and Circle for digital asset infrastructure. The initiative aims to create the world’s first fully on-chain national economy, integrating digital assets into government operations, banks, insurers, and everyday transactions. The government will pilot stablecoin payments and launch digital literacy programs to prepare residents and institutions. The move is intended to lower transaction costs, boost access to global financial systems, and offer new opportunities for local businesses and consumers. Bermuda, with about 73,000 residents and a $6.8 billion GDP in 2024, has been active in crypto innovation since 2018, already enabling tax payments in USDC and piloting its own stablecoin. Coinbase and Circle’s prior involvement includes regulatory approval and collaborations with Bermuda's government.
