Bermuda Government Announces Transition to a Fully On-Chain Economy, in Collaboration with Coinbase and Circle

On January 20, at the World Economic Forum Annual Meeting held in Davos, Switzerland, the government of the British Overseas Territory of Bermuda announced plans to transform the entire island into a 'fully on-chain' national economy, as reported by The Block citing a statement from Coinbase. In partnership with Coinbase and Circle, the initiative will roll out digital asset infrastructure across government, businesses, and consumers. This plan demonstrates Bermuda's vision to integrate blockchain-based payment and financial tools at a national level. Coinbase and Circle will work with the Bermuda government, local banks, insurance companies, small and medium-sized enterprises, and consumers to deploy digital asset infrastructure...