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

Premier David Burt said Bermuda's "onchain economy" plan aims to bring stablecoins into everyday commerce. What to know : Bermuda is expanding its on-chain economy initiative by distributing USDC stablecoins to residents and onboarding local merchants to accept digital payments. Premier David Burt said the goal is to build payment infrastructure outside traditional card networks and banking rails to lower costs and improve access for small businesses. Coinbase executive Paul Grewal praised Bermuda’s iterative, collaborative regulatory approach as a model that contrasts with past U.S. crypto oversight and aligns with what he described as a more constructive current climate.