Bermuda Leverages Stablecoins to Revolutionize National Economy
Bermuda Collaborates with Coinbase and Circle for Blockchain-Based Finance
Bermuda has announced a pioneering partnership with Coinbase and Circle to transition its public finance system onto blockchain technology. This initiative will incorporate stablecoins as a key element in daily government and commercial transactions.
Onchain Economy Pilot Program
As part of this effort, Bermuda's government will pilot stablecoin payments, while local merchants will increase their use of USDC. Financial institutions will also receive support to integrate tokenization and digital finance tools.
We’re bringing an entire country onchain.
Bermuda is building the world’s first fully onchain national economy, with support from Coinbase and @Circle. pic.twitter.com/fFL1foSFHu
— Coinbase 🛡️ (@coinbase) January 19, 2026
Coinbase and Circle will deliver digital asset infrastructure and enterprise-grade technology to support government operations, local banks, insurers, and small businesses. This collaboration will also enable consumers to access digital payment systems.
Nationwide Digital Finance Education
The partnership includes educational initiatives to prepare residents and institutions for onchain tools. This approach focuses on both infrastructure and user readiness.
Bermuda's onchain economy aims to provide a viable alternative to costly traditional payment systems, reducing high processing fees and improving access to banking services for island economies.
USDC adoption will allow merchants to accept fast, low-cost, dollar-denominated payments, supporting compliance and efficient transactions in Bermuda's local market.
Regulatory Foundations and Economic Impact
Bermuda's leadership in digital asset regulation began in 2018 with the Digital Asset Business Act, establishing it as a pioneer in comprehensive digital asset legislation. Circle and Coinbase were among the first licensed companies under this framework, marking a robust regulatory relationship.
Premier E. David Burt emphasized Bermuda's commitment to responsible innovation through partnerships between government, regulators, and industry. He highlighted the initiative's potential to reduce costs and generate opportunities, directly benefiting Bermudians.
Government agencies will soon conduct stablecoin payment pilots, and financial institutions will integrate tokenization tools. Residents will engage in digital literacy programs, laying the groundwork for a more inclusive economy.
Bermuda's strategic national priority is digital finance, aimed at enhancing efficiency, reducing transaction costs, and boosting competitiveness. By embedding stablecoins in everyday transactions, Bermuda seeks long-term economic resilience, with digital assets offering potential improvements in transparency and settlement speed.
If successful, Bermuda could become a global model for onchain public finance, demonstrating the scalability of regulated stablecoins and influencing similar jurisdictions worldwide.