Bermuda embraces crypto! Collaborating with Coinbase and Circle to create the world's first national-level on-chain economy

Bermuda partners with Coinbase and Circle to promote stablecoins and on-chain infrastructure, building a national-level financial system centered on digital assets, reducing costs, and reshaping the island economy.

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Partnering with Coinbase and Circle to Build the World’s First National On-Chain Economy”,“content”:“On Monday, the Bermuda government announced a collaboration with cryptocurrency exchange Coinbase and stablecoin issuer Circle to create the “world’s first fully on-chain national economy,” using digital assets as the foundational infrastructure for government, businesses, and consumers.\n\nThe plan was officially unveiled at the World Economic Forum (WEF) annual meeting in Davos, Switzerland. According to the plan, Coinbase and Circle will provide digital asset infrastructure and enterprise-level tools for the Bermuda government, local banks, insurers, SMEs, and consumers, while also helping to promote nationwide digital financial education and technical training.\n\nThe Bermuda government pointed out that, as it is often grouped with Caribbean island jurisdictions, local businesses face higher transaction fees and have difficulty accessing fiat banking services from mainland countries, leading to profit erosion.\n\nBermuda Prime Minister E. David Burt stated: “This initiative creates opportunities and reduces costs, ensuring Bermuda residents can enjoy the benefits of future finance first.”**\n\nAccording to the plan, Bermuda government departments will pilot stablecoin payments first, financial institutions will adopt asset tokenization tools, and the general public will gradually become familiar with on-chain tools through nationwide digital financial literacy programs.\n\n* This article is reprinted with permission from: 《Blockcast》\n* Original title: 《Bermuda Partners with Coinbase and Circle to Build the World’s First “National On-Chain Economy”》\n* Original author: Block Sister MEL”},“brief”:“Bermuda partners with Coinbase and Circle to promote stablecoins and on-chain infrastructure, building a national-level financial system centered on digital assets, reducing costs, and reshaping the island economy.”,“userImage”:“https://cdn.cryptocity.tw/upload/1BgWQbAvsW7f1YIxOp_-W.png”,“author”:“Blockcast”,“reporter”:“Blockcast”,“reporterTitle”:“Blockchain Media”,“hastags”:[“Bermuda”,“Coinbase”,“Circle”,“Stablecoin”,“On-chain National”],“hashtags”:[“Bermuda”,“Coinbase”,“Circle”,“Stablecoin”,“On-chain National”],“knowList”:[],“isNoIndex”:false,“faqTopic”:null}}]}]