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Bermuda economy to become fully onchain
23 January 2026 Bermuda
Image: sezerozger/stock.adobe.com
Revealed at the World Economic Forum in Davos, the government of Bermuda, with support from Circle and Coinbase, has unveiled plans to move the territory’s economy fully onchain.
Both Circle and Coinbase will provide the necessary digital asset infrastructure, in addition to their enterprise tools, for the government, local banks, and insurers, along with small and medium-sized businesses.
The benefits of the transition are said to include lower transaction costs and greater access to global finance through modern digital wallets and infrastructure, according to the nation’s government.
The Hon. E. David Burt, JP, MP, Premier of Bermuda, sees the initiative as “creating opportunity, lowering costs, and ensuring Bermudians benefit from the future of finance”.
Circle co-founder, chairman, and CEO, Jeremy Allaire, adds: “Bermuda has been a global pioneer in digital asset regulation and continues to demonstrate what responsible blockchain innovation looks like at a national scale.”
Brian Armstrong, Coinbase CEO, believes that the territory’s “leadership shows what's possible when clear rules are paired with strong public-private collaborations,” and that the company is “excited to support Bermuda’s transition toward an onchain economy”.
Government agencies will commence the pilot phase of stablecoin-based payments, with financial institutions integrating tokenisation tools.
Both Circle and Coinbase will provide the necessary digital asset infrastructure, in addition to their enterprise tools, for the government, local banks, and insurers, along with small and medium-sized businesses.
The benefits of the transition are said to include lower transaction costs and greater access to global finance through modern digital wallets and infrastructure, according to the nation’s government.
The Hon. E. David Burt, JP, MP, Premier of Bermuda, sees the initiative as “creating opportunity, lowering costs, and ensuring Bermudians benefit from the future of finance”.
Circle co-founder, chairman, and CEO, Jeremy Allaire, adds: “Bermuda has been a global pioneer in digital asset regulation and continues to demonstrate what responsible blockchain innovation looks like at a national scale.”
Brian Armstrong, Coinbase CEO, believes that the territory’s “leadership shows what's possible when clear rules are paired with strong public-private collaborations,” and that the company is “excited to support Bermuda’s transition toward an onchain economy”.
Government agencies will commence the pilot phase of stablecoin-based payments, with financial institutions integrating tokenisation tools.
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