Bermuda builds digital payment system on Stellar for salaries, merchant payments

The government of Bermuda is building a digital payment system based on the Stellar network (XLM), the Stellar Development Foundation (SDF) announced. The move follows the government's previously unveiled plan at the World Economic Forum (WEF) to transition its national economy on-chain, after which it began migrating major payment and financial services to a system built on Stellar. Residents of Bermuda can now use a Stellar-based wallet to receive salaries, make payments at stores, pay government fees, and send cryptocurrency.