Bermuda’s Ministry of Finance provided an update on the government’s onchain economy initiative following a Nov. 9 visit by Coinbase co-founder and CEO Brian Armstrong. More than 60 local businesses and over 1,000 residents have been onboarded to Coinbase Wallets and USDC on Base. More than USD 65,000 in USDC has moved through the programme so far.
The initiative builds on the government’s January 2026 announcement at the World Economic Forum in Davos of plans to make Bermuda the world’s first fully onchain national economy, with Coinbase and Circle as key partners. Workshops and community activities delivered with local partners have supported onboarding. Coinbase’s USDC airdrops have also provided residents with digital dollars to spend at local vendors.
During the visit, Armstrong met merchants accepting USDC and discussed expanding local digital finance adoption with Premier E. David Burt. The government and its partners plan further community activities at the Bermuda Digital Finance Forum in April 2027.