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Bermuda Migrates Key Payment Services to Stellar, Aims to Cut Processing Costs by 3-5%

GateNews

2026-05-12 13:20:20

XLM-2.75%

According to Stellar Development Foundation and the Bermuda government, Bermuda has announced plans to migrate critical payment and financial services to the Stellar network, establishing an “on-chain national economy.” The initiative will enable residents to receive salaries, process merchant payments, pay government fees, and hold digital assets through Stellar-based digital wallets. The government will pilot stablecoin payments and allow financial institutions to integrate tokenization tools, with assets also supporting social service disbursements. The plan targets reducing local merchant payment processing costs from current 3-5% or higher levels.

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