Coinbase, partnering with Circle, supports Bermuda's plan to create the world's first 'fully on-chain national economy.' Unveiled at the World Economic Forum in Davos, the project provides digital asset infrastructure to the nation's government, banks, and businesses. This infrastructure integrates blockchain-based financial tools.
Coinbase CEO Brian Armstrong stated the initiative aims to 'drive economic freedom.' He noted the project empowers people and institutions with open financial systems. This move marks a significant real-world application of their technology.
The broader crypto market faced downward pressure. This pressure stemmed from macroeconomic concerns, including new US tariff proposals.