Bermuda to Use Stellar Blockchain in Push for On-Chain National Economy

Bermuda has announced plans to move parts of its payment and financial services systems onto the Stellar as part of its broader effort to build a fully on-chain national economy.

The announcement was made at the Bermuda Digital Finance Forum, where Premier David Burt said the government has completed risk assessments and is now prepared to accept and invest in digital assets.

Following this policy direction, Stellar confirmed that selected financial services in Bermuda will transition to its network, a step aimed at helping reduce high transaction costs.

Source: Stellar