finance
Bermuda Partners With Circle, Coinbase, Stellar on Digital Dollar Project
Bermuda announced plans to develop a sovereign digital dollar and a fully onchain economy in partnership with Circle, Coinbase, and Stellar. The initiative aims to create the first national economy built entirely on blockchain infrastructure.
May 26, 1:00 PM·1m read1 source
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Bermuda is working with Circle, Coinbase, and Stellar to develop a sovereign digital dollar and what officials described as the world's first fully onchain economy. The project will integrate blockchain technology across government services, payments, and financial systems. Circle, Coinbase, and Stellar will provide technical infrastructure and stablecoin capabilities for the digital currency.
The sovereign Bermuda digital dollar is intended to function as legal tender alongside the existing Bermuda dollar. Officials stated the digital version will operate on public blockchain networks rather than centralized databases. The partnership covers technical development, regulatory frameworks, and potential pilot programs.
No timeline for launch or specific budget figures were disclosed in the announcement.
Circle will contribute stablecoin technology and compliance tools. Coinbase will provide exchange infrastructure and custody services. Stellar will supply the underlying blockchain protocol for transaction settlement. The three companies have previously collaborated on cross-border payment systems and digital asset frameworks in other jurisdictions.
