Bermuda, the small island nation with huge crypto ambitions

The government recently announced it would become the world’s first economy to go fully onchain, a move officials believe will bring its people new opportunities.\nWhat to know : Bermuda is working with Circle, Coinbase and Stellar to build what it hopes will be the world’s first fully onchain economy, including a sovereign Bermuda digital dollar. The Bermuda Monetary Authority has begun real-world testing by airdropping USDC to residents, enabling payments at a pop-up marketplace, and preparing to accept digital assets for government fees starting with the Department of Motor Vehicles. Regulators are updating laws on property, contracts and securities while piloting smart-contract-based compliance and an AI payments hub, aiming to make Bermuda a global center for tokenized assets and decentralized finance.