Bidali launched a pilot in Bermuda enabling residents to purchase rum with digital Bermuda dollars on the Stellar network, marking progress toward the island's comprehensive crypto payments system.
Canadian fintech firm Bidali announced a pilot program in Bermuda where rum company Gosling's Limited will accept digital Bermuda dollars via the Stellar network. The initiative, supported by the Bermuda government, represents the latest phase of the island's effort to create a digitized currency system since 2018. Bermuda lacks a central bank and access to traditional payment platforms like PayPal, making blockchain-based solutions critical for financial inclusion. The government aims to digitize the Bermuda dollar across multiple blockchains, allowing citizens and markets to determine optimal solutions. Previous initiatives include a blockchain-based digital ID system and a 2020 stimulus token pilot, with the new digital dollar project specifically leveraging Stellar's infrastructure.
