Bermuda has announced a strategic shift to the Stellar network for its key payment and financial services, marking a significant step towards a blockchain-based national economy. This move, revealed on May 12, is part of a collaboration between the Stellar Development Foundation and the Bermudan government, leveraging the 2018 Digital Assets Business Act framework. The initiative aims to lower merchant payment processing costs, which currently range from 3% to 5%. Bermudan residents will soon be able to use Stellar network digital wallets for receiving salaries, making merchant payments, and paying government fees. The government plans to pilot stablecoin payments and integrate tokenization tools for financial institutions, enhancing the efficiency of government disbursements, including social services.