Circle & Coinbase Join Bermuda’s On-Chain Economy Project

Crypto News Regulation

Circle and Coinbase Join Bermuda’s On-Chain Economy Project

Written by Aaron S.,

Editor-In-Chief

Last Updated: January 20, 2026

Key Takeaways

Bermuda plans to become the world’s first fully on-chain national economy with help from Circle and Coinbase;
The country will use USDC for business and government payments;
Pilot programs will test stablecoin payments in public services before the 2026 Bermuda Digital Finance Forum.

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Circle and Coinbase Join Bermuda’s On-Chain Economy Project

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The government of Bermuda has announced a plan to become a fully on‑chain national economy.

This initiative was revealed on January 19 at the World Economic Forum Annual Meeting in Davos, Switzerland. The project involves partners such as Circle and Coinbase $1.11B .

The strategy builds on Bermuda's early adoption of cryptocurrency regulation. In 2018, the country introduced the Digital Asset Business Act. Under this framework, Circle and Coinbase were among the first companies to receive licenses.

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One important part of the approach is the use of Circle's stablecoin USDC USDC $0.9982 for payments. Several businesses in Bermuda are already accepting USDC payments.

The plan also features pilot programs to integrate stablecoin payments into public services. These pilots will focus on implementing payment systems with government departments.

Organizers plan to expand efforts at the Bermuda Digital Finance Forum for 2026, scheduled for May 11 to 14. The next event intends to reach more businesses, offer greater incentives for residents, and increase the involvement of financial service organizations.

Jeremy Allaire, Co‑Founder and CEO of Circle, stated that Bermuda acts as a pioneer in digital regulations and that the company supports equipping local businesses and people with access to USDC and digital tools.

Brian Armstrong, CEO of Coinbase, mentioned that Bermuda's leadership and clear rules allow government and industry to work together.

On January 16, Kazakhstan's president, Kassym-Jomart Tokayev, signed legislation introducing new requirements for digital asset activities. What does the law cover? Read the full story.