Bermuda Plans to Build the World's First Fully On-Chain National Economy

Recently, the Bermuda government announced an ambitious plan at the World Economic Forum in Davos to create the world's first fully on-chain national economic system, supported by Circle and Coinbase.

According to Circle's official website, the core of the plan is to use USD stablecoins represented by USDC as a payment tool to replace Bermuda's currently expensive and restricted traditional payment systems.

For this island economy composed of thousands of small and medium-sized enterprises, the high fees of traditional cross-border payments severely erode merchant profits. On-chain payments can provide fast, low-cost USD-denominated transactions, injecting new vitality into the local economy.

It is worth noting that as early as 2018, Bermuda introduced the first clear regulatory framework for the global leading "Digital Asset Business Act," under which Circle and Coinbase were among the first global companies to obtain licenses.

By the Bermuda Digital Finance Forum in 2025, the three parties had successfully airdropped 100 USDC to each participant for pilot use with local merchants, laying a practical foundation for this national digital asset promotion.

According to the plan, government agencies will take the lead in pilot stablecoin payments, financial institutions will integrate tokenization tools, and nationwide digital financial literacy campaigns will be conducted to ensure that all citizens benefit from the future of finance, promoting the development of digital finance.

The ultimate goal of this series of initiatives by the Bermuda government is to establish a more inclusive, competitive, and resilient national economic system, allowing economic value to circulate more locally.

Overall, Bermuda is attempting to upgrade from an "offshore financial center" to an "on-chain financial center," providing a sovereign-level experimental model for the future development of global digital finance.

#百慕大 # On-Chain Economy