The Stellar Development Foundation and the Bermuda government have announced a strategic initiative to migrate Bermuda's key payment and financial services to the Stellar network. This move aims to establish Bermuda as the world's first fully on-chain national economy. Building on the 2018 Digital Asset Business Act, the plan seeks to reduce local merchants' payment processing costs, which currently range from 3% to 5% or higher. Under this initiative, Bermuda residents will be able to use digital wallets on the Stellar network to receive salaries, make payments to local merchants, pay government fees, and manage digital assets. The government plans to pilot stablecoin-based payments, and financial institutions will have access to tokenization tools. These digital assets may also be utilized in government payment scenarios, such as social service disbursements.