The government of Bermuda has announced plans to develop a fully onchain national economy through partnerships with cryptocurrency exchange Coinbase and stablecoin issuer Circle.
The initiative was unveiled on Monday at the World Economic Forum Annual Meeting in Davos, Switzerland, by Bermuda Premier David Burt alongside representatives from both companies.
The partnership will use Circle’s USDC stablecoin and Coinbase’s Base infrastructure to modernise payments and financial services across the island nation.
Bermuda government agencies are expected to begin with pilot programmes covering stablecoin-based payments, tokenisation tools for financial institutions and nationwide digital literacy efforts.
“This initiative is about creating opportunity, lowering costs, and ensuring Bermudians benefit from the future of finance,”
David Burt said.
Bermuda has positioned itself as a crypto-friendly jurisdiction since passing the Digital Asset Business Act in 2018 to attract digital asset companies.
Officials said many local businesses already accept digital payments following a USDC airdrop at the Bermuda Digital Finance Forum in May 2025.