Stellar to Power Bermuda's Plan to Become World's First Fully Onchain Economy

Stellar to Power Bermuda's Plan to Become World's First Fully Onchain Economy

/PRNewswire/ -- Today, the Stellar Development Foundation and the Government of Bermuda announced that Bermuda will begin moving key payment and...

Bermuda to Transition ‘Key’ Financial Services to Stellar Blockchain

Bermuda Premier David Burt announced several crypto-related initiatives to bring the island nation closer to the industry, including accepting and investing in digital assets and on-chain financial services.

Bermuda Expands Blockchain Push With Stellar-Powered Government Payments

The Government of Bermuda and the Stellar Development Foundation are joining forces to transition the country’s payments and financial services to the Stellar (XLM) network. Following the revelation of their plans at the World Economic Forum in January, the island is on track to become the first fully “on-chain” national economy. This decision aims to combat high legacy payment processing costs, which currently reach up to 10% for local resident…

Bermuda taps Stellar to widen government blockchain payments

Bermuda’s government is sticking to their plan of migrating their national economy onchain and is now partnering with the Stellar Development Foundation to move payments and other financial services onto its network, XLM.  The island mentioned that its residents were facing processing costs of up to 10%, making the move onchain not just an attempt at modernizing the system, but a necessary step for retaining economic value. Bermuda moves onchain…

Stellar Lands Its First National Economy Deployment in Bermuda News ETHNews

Bermuda will move key payment and financial services onto Stellar as it works toward a fully onchain national economy. Stellar wallets will support wages, merchant payments, government fees, digital assets, and stablecoin payment pilots in Bermuda. Bermuda is moving key payment and financial services onto the Stellar network as the island advances its plan to become the world’s first fully onchain national economy. The Stellar Development Founda…

Stellar Partners With Bermuda to Build the World’s First Fully On-Chain Economy

Bermuda pushes Stellar into national payment infrastructure modernization plans. Digital wallets on Stellar target lower transaction costs across Bermuda commerce. Stellar expands institutional blockchain adoption through Bermuda partnership initiative. Stellar moved deeper into government-backed finance this week after Bermuda unveiled plans to migrate major payment activities onto the blockchain network. The initiative marks Bermuda’s first op…