Deep Tide TechFlow News, January 20th, according to Circle's blog, the Bermuda government announced plans to transform Bermuda into the world's first fully on-chain national economy, with support from Circle and Coinbase.

The two companies plan to provide digital asset infrastructure and enterprise tools for the Bermuda government, local banks, insurance companies, small and medium-sized enterprises, and consumers, as well as support nationwide digital financial education and technical onboarding training.

Bermuda Prime Minister E. David Burt stated that this move aims to achieve responsible large-scale innovation through collaboration between the government, regulators, and industry. The on-chain economic transformation is expected to bring tangible benefits to residents and businesses, such as reduced transaction costs and greater access to global finance.