Yes

>>The nation is moving onto blockchain, and Stellar, Ripple’s rival, has just sealed the deal.

The nation is moving onto blockchain, and Stellar, Ripple’s rival, has just sealed the deal.

crypthub

5/13/2026, 12:00:16 PM

Partnership Overview

The Stellar Development Foundation and Bermuda’s government have launched a live deployment moving key payments onto the Stellar network. Residents will receive wages, pay merchants, settle fees, and handle digital assets via Stellar wallets. Government agencies plan to pilot stablecoin‑based payments, while banks can integrate tokenization tools. Social‑service disbursements are also being explored.

Economic Motivation

Bermudian merchants currently face 3‑5% card‑processing fees, sometimes rising to 10%, draining value from the island. Lack of mobile‑money infrastructure forces reliance on costly legacy rails. The partnership aims to retain that value by using low‑cost digital dollars on Stellar. Premier E. David Burt highlighted the need for scalable, responsible systemic change.

Why Stellar

Stellar is built for regulated finance, offering public yet configurable asset controls for sovereign use. Transactions settle in seconds at fractions of a cent, and the network provides extensive cash on/off‑ramps. Bermuda’s 2018 Digital Asset Business Act supplies clear regulatory foundations. CEO Denelle Dixon noted the island’s unique alignment of law, ecosystem, and leadership.

Implications

This is the first nationwide on‑chain economy beyond the Marshall Islands’ 2025 UBI trial. It demonstrates that governments can operationally shift payment systems to blockchain at scale. Successful implementation could set a precedent for other jurisdictions seeking lower‑cost, on‑chain financial infrastructure. Stellar now powers the world’s first attempt at a fully on‑chain national economy.