The program will use the USDC stablecoin along with Coinbase’s Base blockchain infrastructure
Bermuda is taking another step toward becoming a digital finance hub through a new partnership with Coinbase and Circle. The government plans to test parts of a “fully on-chain” economy using blockchain tools, with early efforts focused on payments and financial services.
We’re bringing an entire country onchain.
Bermuda is building the world’s first fully onchain national economy, with support from Coinbase and @Circle. pic.twitter.com/fFL1foSFHu
— Coinbase 🛡️ (@coinbase) January 19, 2026
The pilot will rely on USDC, the dollar-backed stablecoin issued by Circle, along with Coinbase’s Base blockchain infrastructure. Officials say the goal is to modernize how money moves across parts of the public sector while lowering costs for residents and businesses.
The initiative was announced during the World Economic Forum meeting in Davos, where Bermuda Premier David Burt appeared alongside executives from both crypto firms. Burt said the project is designed to create new opportunities while making sure that everyday Bermudians benefit from changes in financial technology.
Initial testing will include stablecoin-based payments, tokenization tools for financial institutions, and digital education programs aimed at residents. Government agencies are expected to take part first, with broader adoption possible if the pilot proves successful.
Bermuda has spent years positioning itself as a crypto-friendly jurisdiction. The country passed the Digital Asset Business Act in 2018, creating a clear regulatory framework that attracted companies such as Coinbase and Circle. That groundwork has helped normalize digital payments across the island.
Local adoption is already underway. Following a USDC distribution at the Bermuda Digital Finance Forum in 2025, several businesses began accepting stablecoin payments, giving the government confidence to expand its experiments.
The announcement comes during a busy week for the crypto industry at the World Economic Forum. Leaders from Coinbase and Circle are using the event to discuss stablecoins, tokenization, and regulation with policymakers and banks.
For Bermuda, the partnership represents a practical test of blockchain in everyday use. If successful, it could offer a blueprint for how small nations integrate crypto technology into their financial systems.
