Bermuda Plots 'Fully On-Chain National Economy' With Help From Coinbase and Circle [Yahoo! Finance]
Coinbase Global, Inc. - 3Class A (COIN)
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Source: Yahoo! Finance
Announced at the World Economic Forum Annual Meeting on Monday, Bermuda will lean on the crypto firms for digital asset infrastructure support for its government, local banks, insurers, and consumers. The goal, according to a press statement, is to create the “world's first fully on-chain national economy.” “Bermuda has always believed that responsible innovation is best achieved through partnership between government, regulators, and industry,” said Bermuda's Premier E. David Burt, in a statement. “With the support of Circle and Coinbase, two of the world's most trusted digital finance companies, we are accelerating our vision to enable digital finance at the national level,” he added. “This initiative is about creating opportunity, lowering costs, and ensuring Bermudians benefit from the future of finance.” The nation, which consists of around 73,000 residents according to a 2024 estimation from the CIA, primarily leans on tourism and construction and had an estimated real GD
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