Bermuda is taking a bold step toward becoming the world’s first fully on-chain national economy, leveraging the expertise of American crypto exchange Coinbase and USDC issuer Circle. Announced at the World Economic Forum Annual Meeting on January 19, 2026, the initiative aims to integrate digital assets into government operations, local banks, insurers, and everyday consumer transactions. The government described the plan as a way to create opportunity, lower costs, and provide Bermudians with direct access to the future of finance.
Premier E. David Burt emphasized the importance of collaboration between regulators, government, and industry, noting that partnerships with Coinbase and Circle would accelerate Bermuda’s transition to digital finance at the national level. For a nation of roughly 73,000 residents and an estimated GDP of $6.8 billion in 2024, this represents a significant technological leap that could serve as a model for other small economies exploring blockchain integration.
The initiative’s first steps include piloting stablecoin payments within government agencies and offering tokenization tools for local financial institutions. Educational programs will accompany the rollout, aiming to boost digital literacy and ensure smooth onboarding for both businesses and consumers. Coinbase CEO Brian Armstrong highlighted that Bermuda’s clear regulatory framework and commitment to public-private cooperation showcase the potential for open financial systems to enhance economic freedom.
Bermuda is no stranger to crypto adoption. The island passed the Digital Asset Business Act in 2018, allowing for regulated digital finance activities, partnered with Circle to accept USDC for tax payments in 2019, and even tested its own stablecoin in 2020. Coinbase obtained a license from the Bermuda Monetary Authority in 2023, marking a key step in the island’s ongoing digital finance strategy. These moves suggest that Bermuda has been steadily preparing its financial infrastructure for a fully tokenized economy.
Experts see this initiative as potentially transformative. By moving transactions, payments, and government finance onto blockchain rails, Bermuda could reduce costs, increase transparency, and expand access to global capital. For investors and crypto companies, the nation could become a high-profile test case for how sovereign economies can embrace digital assets without destabilizing traditional systems. The success of this plan may influence other countries exploring the use of stablecoins, tokenized assets, and blockchain for national-level finance.
Looking ahead, Bermuda’s on-chain experiment will be closely watched by both the crypto industry and policymakers worldwide. If executed successfully, it could redefine national finance, positioning the island as a global leader in blockchain adoption and providing a blueprint for integrating digital assets into everyday economic life.
