Bermuda announced it will move key payment and financial-services activity onchain using the Stellar network, becoming the world's first fully onchain national economy. The initiative aims to reduce payment processing fees and increase financial inclusion through digital wallets and stablecoin-based payments.
The Stellar Development Foundation and the Government of Bermuda announced that Bermuda will begin moving payment and financial-services activity onchain onto the Stellar network, marking the first operational milestone toward becoming the world's first fully onchain national economy. Bermudian residents will be able to receive wages, pay merchants, settle government fees, and hold digital assets through Stellar wallets, leveraging one of the world's largest cash on and off-ramp networks. The initiative addresses high payment processing costs (3-5% in card fees, up to 10% in some categories) and will include government pilots of stablecoin-based payments, financial institution tokenization tools, and digital literacy programs. Stellar's purpose-built design for regulated financial services and its track record supporting sovereign deployments like the Marshall Islands' ENRA program position it as the infrastructure backbone for this national-scale initiative.
