The government of Bermuda plans to pilot parts of a fully onchain digital economy using technology from Coinbase and Circle. The initiative will begin with stablecoin payments and tokenization tools across select public services.
Announced at the World Economic Forum in Davos, the partnership will use USDC stablecoins and Coinbase’s Base blockchain infrastructure. Bermuda Premier David Burt said the goal is to lower costs and create new economic opportunities for residents.
Bermuda has positioned itself as crypto-friendly since passing the Digital Asset Business Act in 2018. Several digital asset firms already operate under this framework, and many local businesses accept digital payments.
The pilot will focus on government payments, financial institutions adopting tokenization and nationwide digital literacy programs. If successful, Bermuda could become a real-world example of how blockchain can support everyday economic activity at a national level.
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