Overview
- The government announced the initiative at the World Economic Forum in Davos, partnering with Circle and Coinbase to deploy onchain payments and infrastructure across public services and the private sector.
- USDC sits at the center of early trials, with government agencies set to test stablecoin payments as banks and insurers explore tokenization tools to speed settlement and cut fees.
- Circle and Coinbase will provide enterprise-grade infrastructure, compliance support, and technical onboarding while backing island-wide literacy programs to help residents and businesses use digital wallets and onchain tools.
- The program builds on Bermuda’s 2018 Digital Asset Business Act and prior experiments, including a 100‑USDC airdrop at the 2025 Bermuda Digital Finance Forum that spurred merchant acceptance.
- The partnership is described as voluntary and non‑exclusive, with pilots ramping up ahead of an expanded push at the Digital Finance Forum on May 11–14, 2026, and no fixed deadline for broader conversion.