The island nation partners with Circle, Coinbase, and Stellar to digitize its economy, including a sovereign digital dollar and USDC payments.
Bermuda announced plans to become the world’s first fully onchain economy, integrating blockchain into government services and financial systems. The initiative includes a sovereign digital dollar and real-world testing of USDC stablecoin payments, starting with a $100 airdrop to residents for use in a pop-up marketplace and government fee payments at the Department of Motor Vehicles.
The Bermuda Monetary Authority is updating laws on property, contracts, and securities while piloting smart-contract compliance and an AI payments hub. Officials aim to position Bermuda as a global hub for tokenized assets and decentralized finance, with partnerships including Circle, Coinbase, and Stellar.
Regulators have already conducted educational events to familiarize citizens with crypto wallets and digital transactions. The move follows broader efforts to modernize the island’s financial infrastructure and attract fintech investment.