Circle Internet Group Inc. and Coinbase announced support for the Government of Bermuda's plan. Bermuda aims to become the world's first "fully on-chain national economy."
Bermuda unveiled the initiative at the World Economic Forum Annual Meeting in Davos. The plan utilizes digital asset infrastructure and enterprise tools. These tools will span the nation's administration, local banks, insurers, and businesses.
The transformation involves Circle's USDC stablecoin and other digital finance technologies.
Premier E. David Burt stated the collaboration with two trusted digital finance companies accelerates the national vision. The plan also includes nationwide digital finance education and technical onboarding.