Бермуды устанавливают новый стандарт: переход на блокчейн для создания первой в мире ончейн-экономики Translation: Bermuda sets a new standard: transitioning to blockchain to create the worlds first on-chain economy

The government of Bermuda has announced its intentions to establish «the world’s first fully on-chain economy.» The initiative is being supported technically by Circle and Coinbase.

The collaboration was revealed during the annual meeting of the World Economic Forum.

These cryptocurrency firms will provide the infrastructure necessary for government entities, banks, insurers, and private businesses to utilize digital assets. Additionally, the partners will launch educational programs focused on digital finance for the local population.

The transition to «on-chain rails» aims to address the challenges posed by expensive bank transfers. Traditional payment gateways often prove to be unprofitable for island jurisdictions, diminishing the earnings of local entrepreneurs. The adoption of the stablecoin USDC will enable swift and economical transactions.

The implementation plan consists of multiple phases:

Bermuda has been enhancing its cryptocurrency regulations since 2018, with Circle and Coinbase among the first to obtain local licenses. In 2025, partners tested the system by distributing 100 USDC to participants of the financial forum for purchases at local vendors. Expansion of the program is scheduled for May 2026.

David Burt, the Premier of the islands, highlighted that this partnership will lower costs for citizens while ensuring the responsible integration of innovations. Coinbase also noted that the initiative will demonstrate the effectiveness of clear regulatory frameworks combined with collaboration between business and government.

It is worth mentioning that in January, Coinbase’s CEO Brian Armstrong denied reports that the White House was considering withdrawing its support for the Clarity Act, a bill that aims to regulate the structure of the U.S. cryptocurrency market.