The Bermuda government has announced the creation of the world's first fully on-chain national economic system

According to Circle's official website, the Bermuda government announced at the Davos World Economic Forum plans to build the world's first fully on-chain national economic system with the support of Circle and Coinbase.

The plan will promote digital payments, asset tokenization, and financial education through the stablecoin USDC, alleviating issues of high local payment costs and limited infrastructure. Circle and Coinbase will provide blockchain infrastructure and tools for governments, banks, merchants, and others. This initiative is based on Bermuda's digital asset regulatory framework introduced in 2018.