Bermuda pushes stablecoin payments with USDC airdrop as it courts crypto firms, regulators

Bermuda is expanding its "onchain economy" initiative by distributing USDC stablecoins to residents and recruiting local merchants to accept digital payments, with Premier David Burt announcing another airdrop planned for this year. The program aims to create payment infrastructure outside traditional banking and card networks to reduce costs and improve access for small businesses. Coinbase executives praised Bermuda's collaborative regulatory approach as a model for integrating cryptocurrency into everyday commerce without destabilizing the financial system.