Circle and Coinbase partnered with the Government of Bermuda to build a "fully onchain" economy. The firms unveiled the initiative at the World Economic Forum in Davos. The program focuses on piloting stablecoin payments across government agencies. It will also expand USDC adoption among local businesses and consumers.
The collaboration leverages digital assets as everyday financial infrastructure. This aims to lower costs and improve access to financial services, which are currently restrictive and costly via traditional rails.
Circle and Coinbase will provide infrastructure, enterprise tools, and support for nationwide digital finance education. The partnership serves as a key proof-of-concept for Circle's strategy to embed its technology within core financial systems.