Why Bermuda is testing a fully onchain economy instead of crypto mandates

Bermuda’s onchain economy plan prioritizes pilots, stablecoins and regulation over forced crypto adoption. Here’s why testing comes first.

When Bermuda announces its ambition to become the world’s first fully onchain national economy with support from Circle and Coinbase, you could picture a dramatic, quick overhaul. However, that is not the case.

To be a fully onchain economy, Bermuda has not taken a hard route, which might involve instantly building government services and pushing merchants to accept digital payments. Instead, the island is following a cautious path of well-thought-out, regulated innovation in finance.

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