What is Bermuda planning to do with the Stellar blockchain?

Bermuda plans to move parts of its payment and financial-services infrastructure onto the Stellar blockchain. The government said the goal is to help create a “fully on-chain national economy.”

Why is Bermuda using Stellar for financial services?

Bermuda said it wants to reduce high payment processing fees and modernise outdated financial infrastructure. Stellar specialises in low-cost and fast blockchain payments, making it suitable for digital dollar transfers and cross-border transactions.

What did Premier David Burt say about digital assets?

David Burt said the government may eventually accept and invest in digital assets after completing internal risk assessments. He argued digital dollars could improve economic efficiency and financial access for Bermudians.

What is the Stellar blockchain used for?

Stellar is a Layer 1 blockchain focused on payments, stablecoins and asset transfers. It is commonly used for cross-border remittances, fiat settlement systems and financial infrastructure applications.

Why does this matter for crypto adoption?

The move shows another government experimenting with blockchain infrastructure for public-sector financial services. Institutional and government adoption can strengthen confidence in blockchain technology beyond speculative crypto trading.

Is Bermuda becoming a crypto-friendly jurisdiction?

Yes. Bermuda has actively positioned itself as a digital asset hub since passing the Digital Asset Business Act in 2018. The country has attracted blockchain firms by creating regulatory frameworks designed for crypto businesses.

How are Circle and Coinbase involved with Bermuda?

Bermuda previously announced partnerships with Circle and Coinbase in Davos earlier this year. Those partnerships are aimed at supporting digital asset infrastructure and adoption on the island.

Why are governments interested in blockchain-based payments?

Blockchain systems can reduce transaction costs, improve settlement speed and expand access to financial services. Governments are increasingly exploring blockchain rails for payments, stablecoins and digital asset settlement.

Bermuda shifts services onto Stellar network

Written by Jon CuthbertPublished May. 13 2026Last Updated May. 13 2026

Bermuda announced plans to transition parts of its payment and financial-services infrastructure onto the Stellar blockchain as part of a broader push toward becoming a “fully on-chain national economy.”

Speaking at the Bermuda Digital Finance Forum, Premier David Burt said the government could potentially accept and invest in digital assets following internal risk assessments.

“The lack of mobile money applications and reliance on legacy payments infrastructure has left Bermudians paying high payment processing fees and hindered additional economic growth opportunities,”

Burt said.

“The use of digital dollars can change that, and the Stellar network’s capacity to support public sector initiatives are what make it possible to deliver this responsibly and at the scale Bermuda requires,”

Burt added.

Stellar, a Layer 1 blockchain focused on low-cost payments and asset transfers, is widely used for cross-border payments, fiat settlement services and stablecoin issuance across financial institutions and fintech platforms.

Bermuda has pursued crypto-friendly regulation since introducing its Digital Asset Business Act in 2018 as the island nation seeks to position itself as a hub for blockchain and digital asset companies.

Burt also confirmed earlier partnerships announced in Davos between Bermuda, Circle and Coinbase aimed at supporting digital asset infrastructure and adoption.

With a gross domestic product of roughly $9 billion, Bermuda remains one of the world’s smaller economies but continues to pursue blockchain adoption strategies designed to reduce transaction costs and expand financial access.