The jurisdiction says it is developing a fully onchain economy, including a sovereign Bermuda digital dollar, in collaboration with major crypto firms.
Bermuda is working with Circle, Coinbase and Stellar to build what it describes as the world’s first fully onchain economy, including a sovereign Bermuda digital dollar. The statement points to a public-private effort involving crypto infrastructure and payments companies as Bermuda explores blockchain-based financial rails. An onchain economy typically means transactions, settlement, and asset issuance occur on blockchain networks rather than conventional databases, which can support more transparent and programmable financial systems.