Bermuda partners with Coinbase and Circle for ‘fully onchain’ economy
20.01.2026
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The government of Bermuda is planning to create a “fully onchain” national economy using digital asset infrastructure provided through partnerships with cryptocurrency exchange Coinbase and stablecoin issuer Circle.
Bermuda partners with Coinbase and Circle for ‘fully onchain’ economy
Bermuda just dropped a bombshell at Davos — they’re teaming up with Coinbase and Circle to build the world’s first fully onchain national economy. Premier David Burt announced the partnership at the World Economic Forum, with plans to use USDC stablecoin and Coinbase’s Base infrastructure to rebuild the island’s entire economic model. This isn’t just talk — government agencies are launching a pilot program with stablecoin payments, tokenization tools for financial institutions, and nationwide digital literacy programs for residents.
“This initiative is about creating opportunity, lowering costs, and ensuring Bermudians benefit from the future of finance.” — Bermuda Premier David Burt
Bermuda’s been playing the long game — they passed the Digital Asset Business Act back in 2018 to attract crypto companies, and it’s paying off. Local businesses already accept digital payments after a USDC airdrop at the Bermuda Digital Finance Forum in May 2025. Now they’re taking it to the next level with this full-scale economic transformation.
What’s happening with crypto at the World Economic Forum this week?
Davos is crypto central this week, with Coinbase CEO Brian Armstrong and Circle CEO Jeremy Allaire on the ground. Armstrong’s agenda includes convincing world leaders that crypto can upgrade their financial systems and pushing tokenization to democratize capital markets. He’s also tackling the hot-button issue of stablecoins with bank execs, arguing they should be an opportunity for both banks and crypto companies — as long as there’s a level playing field.
The timing is spicy — Coinbase just pulled support for the US market structure bill last week, with Armstrong saying they couldn’t back it “as written.” This likely delayed the bill’s markup indefinitely, but Armstrong denies any animosity with White House officials, calling it ongoing negotiation. The debate centers on stablecoins, tokenized equities, and DeFi — the exact issues dividing lawmakers and industry leaders.
- • Bermuda’s partnership builds on their 2018 regulatory framework that already attracted Coinbase and Circle
- • Local businesses already accept digital payments following a USDC airdrop in May 2025
- • Coinbase CEO Brian Armstrong is at WEF pushing for tokenization and discussing stablecoin regulation with bank executives
- • Armstrong recently pulled Coinbase’s support for the US market structure bill but denies conflict with White House officials
- • The bill’s delay stems from disagreements over stablecoins, tokenized equities, and DeFi regulations
#Coinbase#onchain economy#Crypto Partnerships#stablecoins#digital assets
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