Bermuda is collaborating with Circle, Coinbase, and Stellar to build the world’s first fully on-chain economy, including the sovereign digital currency, the Bermuda Digital Dollar. The Bermuda Monetary Authority has conducted real-world tests by distributing USDC to residents, enabling payments in temporary markets, and plans to accept digital asset payments for government fees. Regulators are updating laws related to property, contracts, and securities, while piloting smart contract-based compliance systems and AI-powered payment hubs, with the goal of becoming the global hub for tokenized assets and decentralized finance.
Bermuda partners with Circle, Coinbase, and Stellar to launch an on-chain economy pilot.
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Summary
Bermuda is making on-chain headlines by launching a pilot on-chain economy in partnership with Circle, Coinbase, and Stellar. The Bermuda Digital Dollar is a key component of the initiative, with the Bermuda Monetary Authority distributing USDC to residents via airdrop for temporary market use. The government will also accept payments in digital assets for fees. Legal updates to property, contract, and securities laws are underway, alongside trials for smart contract compliance and the development of an AI-powered payment hub. This initiative supports recent token launch announcements and aims to strengthen Bermuda’s position in tokenized assets and DeFi.
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