Bermuda’s Economy Goes On-Chain With the Help of Circle and Coinbase
Bermuda plans to become the world's first fully on-chain national economy with support from Circle and Coinbase.Summary
Bermuda announced at the World Economic Forum in Davos its intention to transition into the world's first fully on-chain national economy, integrating digital assets into core financial infrastructure for payments and other activities. Circle and Coinbase are partnering to provide the necessary digital asset infrastructure, enterprise tools, and nationwide digital finance education initiatives. Premier David Burt emphasized that this move, supported by trusted digital finance companies, accelerates Bermuda's vision for national-level digital finance. This initiative builds upon Bermuda's established history of digital asset policy, starting with the 2018 Digital Asset Business Act, which introduced licensing requirements overseen by the Bermuda Monetary Authority. The move is seen as a continuation of existing policy aimed at benefiting local businesses by reducing reliance on high-fee onshore payment processors.
(Source：BeInCrypto)