Bermuda partners with Coinbase, Circle to build on-chain economy

The government of Bermuda is partnering with Coinbase and Circle to build a complete on-chain economy, a Coinbase representative told The Block at the World Economic Forum in Davos. The initiative aims to establish a digital asset infrastructure across government agencies, businesses, and consumers, transitioning the national economy to a system based on blockchain payments and financial tools. As part of the collaboration, Coinbase, the largest U.S. crypto exchange, and Circle, the issuer of the USDC stablecoin, will provide digital asset infrastructure and corporate tools to the government, local banks, insurers, small businesses, and consumers. The companies will also support nationwide digital finance education and technology onboarding.