Bermuda aims to transition its entire economy onto the blockchain with the help of Coinbase and Circle, using the USDC stablecoin. The island nation plans to create the world’s first fully on-chain national economy, leveraging digital assets as financial infrastructure. This initiative is expected to lower costs, provide better access to global finance, and empower local businesses and residents. Coinbase and Circle will support Bermuda’s vision by providing digital asset infrastructure, stablecoin payment pilots, and financial literacy programs.

In partnership with Coinbase and Circle, Bermuda seeks to lead the way in transforming its economy by embracing blockchain technology. The island nation, with a population of approximately 73,000 residents, relies heavily on tourism and construction. By moving towards an on-chain economy, Bermuda aims to harness the benefits of digital finance, reduce financial transaction costs, and enhance financial inclusion for businesses and individuals. Through collaboration with leading digital finance companies, Bermuda is poised to pioneer a new era of economic innovation and opportunity for its citizens.

Read more at Yahoo Finance: Bermuda Plots ‘Fully On-Chain National Economy’ With Help From Coinbase and Circle