Bermuda Partners With Coinbase and Circle to Build a Fully Onchain Economy

The government of Bermuda, led by Premier David Burt, has recently announced a groundbreaking partnership with Coinbase Global Inc. (NASDAQ: COIN) and Circle Internet Group Inc. (NYSE: CRCL) at the World Economic Forum annual meeting in Davos, Switzerland. This strategic collaboration aims to establish digital asset infrastructure throughout Bermuda’s economy.

Premier Burt emphasized that this initiative is focused on creating opportunities, reducing costs, and ensuring that Bermudians reap the benefits of the evolving financial landscape. Bermuda has been a trailblazer in legalizing cryptocurrencies to drive economic growth. In 2018, the country enacted two pivotal legislations – the Digital Asset Business Act (DABA) and the ICO Act 2018. These legislative moves have laid the foundation for Bermuda to transition into a fully onchain economy.

With the support of Coinbase and Circle, both reputable and well-regulated entities in various jurisdictions, Bermuda is poised to seamlessly expand its economic operations on a global scale. The government kickstarted this partnership during the 2025 Bermuda Digital Forum by distributing $100 worth of USDC to all attendees. The upcoming Bermuda Digital Forum, scheduled for May 11-14, aims to accelerate the mainstream adoption of digital assets.

As part of this initiative, government agencies in Bermuda will start piloting USDC payments to streamline their financial transactions. Coinbase CEO Brian Armstrong commended Bermuda’s proactive approach, highlighting the importance of clear regulations and robust public-private partnerships in fostering innovation.

The decision by Bermuda to transition its entire economy to utilize USDC through Coinbase and Circle will undoubtedly have a significant impact on both companies. Coinbase has been actively promoting the Base network to enhance shareholder revenue. With Circle’s USDC already integrated into Coinbase’s Base network, the stock markets of both companies are well-positioned to grow in tandem with the increased adoption of USDC.

In conclusion, the partnership between Bermuda, Coinbase, and Circle marks a significant milestone in the evolution of digital asset infrastructure. This collaboration underscores the potential for blockchain technology to revolutionize traditional financial systems and drive economic growth. Stay tuned for more updates on this transformative partnership and its implications for the global cryptocurrency market.