The Government of Bermuda welcomed Brian Armstrong, co-founder and CEO of Coinbase, to the Island to see first-hand the progress of Bermuda’s onchain economy initiative.
The visit, which took place on Monday (Nov. 9), follows the Government’s announcement at the World Economic Forum in Davos in January 2026 of its plan to make Bermuda the world’s first fully onchain national economy, with Coinbase and Circle as key partners.
Yesterday at City Hall in Hamilton, Mr. Armstrong and members of the Coinbase executive team met local business owners who now accept USDC, alongside Hamilton Mayor Michael Branco in his capacity as Independent Director at Coinbase. The group took part in a live demonstration of USDC payments at Ashley’s Lemonade and heard from vendors about how digital payments have helped them reduce costs, save and invest.
Later in the afternoon the Premier met with Mr. Armstrong in the Cabinet office to discuss ways the government and Coinbase can continue their partnership in driving local adoption of digital finance and achieving the onchain economy vision.
To date, more than 60 local businesses and over 1,000 residents have been onboarded to Coinbase Wallets and USDC on Base through onboarding workshops and community activations delivered with local partners, including the Bermuda Economic Development Corporation (BEDC) and Penrose Partners. Coinbase’s support, including community USDC airdrops at the Bermuda Digital Finance Forum, has put digital dollars directly into residents' hands to spend with local vendors. More than $65,000 in USDC has moved through the programme so far.
The Premier, the Hon. E. David Burt, JP, MP, said, “When we introduced Bermuda’s onchain economy vision in Davos, we said that its success would be measured by what it delivers for Bermudians. Today’s visit demonstrated how digital dollars are moving beyond discussion and into practice within our community. We are grateful for Coinbase’s partnership and look forward to building on this progress together.”
Building on yesterday’s visit, the Government and its partners plan further community activations at the Bermuda Digital Finance Forum in April 2027.
