Bermuda advances the national strategy of "On-Chain Economy" and deepens cooperation with a compliant platform and stablecoin issuer

2026-01-20 01:40:40

Source: DigitalToday Original Title: Bermuda Strengthens ‘On-Chain Economy’ National Strategy… Collaborates with Coinbase and Circle Original Link: The Bermuda government is launching a nationwide “on-chain economy” transformation. Announced at the World Economic Forum in Davos, this plan’s core is to integrate blockchain technology into government, finance, and consumer sectors across society.

Partners in this plan include a compliant trading platform and stablecoin issuer Circle, which will provide digital asset infrastructure and enterprise-level tools. These institutions will promote technological applications to government departments, local banks, insurance companies, SMEs, and ordinary consumers, while also conducting nationwide digital financial education and user onboarding training. The collaboration was initiated at the “Bermuda Digital Finance Forum 2025” last year, where participants received 100 USDC directly and on-chain proof-of-concept was demonstrated.

The Bermuda government diagnoses that existing payment infrastructure is inefficient, costly, and limited by the island nation’s geographic characteristics. Therefore, the plan aims to expand fast, low-cost USDC dollar settlements to reduce burdens on merchants and consumers. Some local stores are already operating USDC settlements, and the number of participating enterprises is increasing.

This plan is based on the Digital Asset Law first introduced in Bermuda in 2018. At that time, Circle and a compliant platform were among the earliest global companies licensed under this regulatory framework. The platform also operates Bermuda-based derivatives trading.

The upcoming Bermuda Digital Finance Forum 2026 in May will significantly expand consumer incentives and corporate participation. The Bermuda government plans to pilot stablecoin settlement operations through public institutions and conduct digital education for citizens, laying the foundation for a national-level transformation.

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