Premier David Burt announces Bermuda's government is moving its national economy on-chain using Stellar. Citizens will receive wages, make merchant payments, settle government fees, and invest through digital wallets, with MoneyGram enabling off-ramps.
Bermuda's Premier David Burt announced that the island's national economy is moving on-chain via Stellar, making it the world's first fully on-chain national economy. Citizens will receive wages, make merchant payments, settle government fees, and invest through digital wallets using digital Bermuda dollars. The Bermuda government has approved new policies to accept and invest in digital assets. A Circle Mint account serves as the government's digital consolidated account for managing digital assets. MoneyGram partnerships enable digital asset to fiat off-ramping. Legislation to amend the FinTech Development Fund Act is planned for summer to support local entrepreneurs building on-chain economy infrastructure.
