Bermuda Partners with Coinbase and Circle for ‘Fully Onchain‘ Economy
Bermuda is partnering with Coinbase and Circle to build a 'fully onchain' national economy using USDC and Base infrastructure.Summary
The government of Bermuda announced a partnership with cryptocurrency exchange Coinbase and stablecoin issuer Circle to develop a "fully onchain" national economy. This initiative, revealed at the World Economic Forum Annual Meeting in Davos, will leverage the USDC stablecoin and Coinbase's Base infrastructure. The partnership aims to create opportunities, reduce costs, and benefit Bermudians through the future of finance. A pilot program will commence, focusing on stablecoin-based payments, financial institutions integrating tokenization tools, and nationwide digital literacy programs for residents. This effort builds on Bermuda's prior work to attract crypto companies, including establishing a comprehensive regulatory framework in 2018.
(Source：Cointelegraph)