Bermuda pushes stablecoin payments with USDC airdrop as it courts crypto firms, regulators
Key takeaways
- Burt said the tiny island on the Atlantic is expanding its "onchain economy" initiative, a push to get stablecoins into the hands of residents, merchants and local businesses.
- The government plans another airdrop of USDC stablecoin this year, tied to next week's Bermuda Digital Finance Forum 2026, while also onboarding merchants that can accept digital payments.
- "If you are a vendor and you’re accepting digital assets, but you do not have a way to use and spend those digital assets inside your economy, that presents a problem," Burt said.
Burt said the tiny island on the Atlantic is expanding its "onchain economy" initiative, a push to get stablecoins into the hands of residents, merchants and local businesses. The project was first announced in January at the World Economic Forum, with stablecoin issuer Circle (CRCL) and exchange Coinbase (COIN).
The government plans another airdrop of USDC stablecoin this year, tied to next week's Bermuda Digital Finance Forum 2026, while also onboarding merchants that can accept digital payments. Participants will receive stablecoins through wallets and can spend them with local vendors, Burt said.
"If you are a vendor and you’re accepting digital assets, but you do not have a way to use and spend those digital assets inside your economy, that presents a problem," Burt said.