Bermuda is preparing legislation that would allow the government to invest in digital assets, with an initial focus on tokenized versions of traditional instruments such as money market funds.
Bermuda Eyes Digital Assets Treasury as Onchain Push Strengthens
12 May 2026 - 19:13 CEST
By Ana Pereira
The policy push, announced by Premier David Burt in opening remarks 12 May at the Bermuda Digital Finance Forum, has been approved at cabinet level, but must still clear Bermuda’s parliamentary process before taking effect.
If approved, the legislation would formalize the government's ability not only to accept digital assets for payments but also to allocate capital to them.
According to Burt, the government is also developing operational capacity, including digital treasury accounts to receive and manage assets, as part of a phased rollout across departments.
"We want to make sure that we are demonstrating the value of digital finance and the government is going to take the leadership position to make sure that we go ahead and get that done," Burt said.
The move builds on a multi-year strategy seeking to position the tiny island as a regulated hub for digital finance, with more than 45 licensed firms operating under its Digital Asset Business Act framework introduced in 2018.
Onchain strategy
In January, Bermuda announced plans to build what it described as the world's first fully onchain national economy during the World Economic Forum in Davos.
The initiative, backed by partnerships with crypto companies including the Stellar Network, Circle and Coinbase, is expected to provide stablecoin issuance, payment rails and wallet integrations with local banks, insurers and businesses connecting into the system.
While Circle will supply the digital dollars targeting merchants, the Stellar network will offer the settlement layer for payments, savings and investment across the island.
"Bermudians will be able to receive wages, make merchant payments, settle government fees and save and invest through digital wallets," said Raja Chakravorti, chief business officer at the Stellar Development Foundation.
Live pilot
The Bermudian dollar, the island's legal tender, is pegged 1:1 to the US dollar. With a population of about 64,000, Bermuda could serve as a live test case for how digital assets function in a contained environment.
