Bermuda and Stellar Partner on Digital Payments

The Government of Bermuda and the Stellar Development Foundation announced plans to move part of the island’s financial infrastructure onto the Stellar network. The initiative became the first operational step after Bermuda said at the 2026 World Economic Forum that it wants to become the world’s first fully on-chain economy.

The project builds on Bermuda’s Digital Asset Business Act introduced back in 2018. The law created one of the earliest regulatory frameworks for digital assets and blockchain companies. Now the government plans to expand that infrastructure into daily payments and financial services.

Residents of Bermuda are expected to use digital wallets connected to the Stellar network for everyday activity. This includes receiving salaries, paying merchants, settling government fees, and transferring digital assets where supported. The network also provides fiat on- and off-ramp infrastructure, allowing users to move between traditional money and digital assets.

Government agencies plan to test stablecoin payment systems, while financial institutions may integrate tokenization tools into their services. Bermuda also intends to launch digital literacy programs to help residents understand and use blockchain-based financial products.

Stellar focuses on regulated financial services and cross-border payments. The network supports low-cost transactions that settle within seconds. Stellar has previously worked with institutional and sovereign initiatives, including the Marshall Islands’ ENRA program, which distributed nationwide universal basic income payments onchain in 2025.

For Bermuda, the goal is not to create a separate crypto economy but to integrate blockchain infrastructure into everyday financial activity used by citizens, businesses, and government agencies.

Image: Magnific