Baimu will migrate its payment and financial services to the Stellar network

The Stellar Development Foundation and the Bermuda government announced that Bermuda will promote the construction of a "fully on chain national economy" through the Stellar network, reducing payment processing costs. Residents can use digital wallets to receive wages, pay fees, and hold digital assets. The government will pilot stablecoin payments, and financial institutions can access tokenization tools. Relevant assets will be used for social service distribution and other scenarios.