The Bermuda government is accelerating the implementation of an ambitious plan — to build a fully on-chain economic system. Participants in this collaboration include a compliant platform and a stablecoin issuer, who will work together to provide comprehensive infrastructure support for government agencies, financial institutions, insurance companies, as well as small and medium-sized enterprises and consumers.

Specifically, the cooperation plan covers several key areas: government agencies will take the lead in piloting a stablecoin payment system, which means USDC is expected to be widely adopted among local merchants. Meanwhile, financial institutions are encouraged to explore innovative digital financial tools such as tokenization, paving the way for traditional finance to migrate onto the blockchain.

Notably, this collaboration not only offers technical support but also includes digital financial education and technical access guidance for government, banks, insurance agencies, small and medium-sized enterprises, and consumers. In other words, the Bermuda government is advancing institutional innovation while also investing in talent and knowledge reserves. The related plan will be announced during the World Economic Forum annual meeting, further highlighting the government’s emphasis on this strategy. This may mark a new attempt by a small country to explore financial digitalization and provide a reference case for other regions.