According to Odaily Odaily, the Bermuda government has announced a partnership with Coinbase and Circle to develop Bermuda into a fully on-chain national economy, using digital assets as everyday financial infrastructure.
The plan, announced during the World Economic Forum in Davos, Switzerland, focuses on piloting stablecoin payments within government departments, promoting the use of USDC among local merchants, and supporting financial institutions in the implementation of asset tokenization and digital financial instruments. Coinbase and Circle will provide digital asset infrastructure and technical support to governments, banks, insurance institutions, SMEs, and individual users, and will also cooperate in conducting nationwide digital financial education.
The Bermuda government stated that traditional payment systems are costly and restrictive for small island economies, while on-chain finance helps reduce costs, improve efficiency, and expand financial accessibility. Bermuda Prime Minister David Burt pointed out that this initiative aims to create more opportunities for local residents and ensure they benefit from the future development of the financial system.
