BERMUDA PARTNERS WITH WALLETCONNECT TO DEPLOY NATIONWIDE DIGITAL ASSET PAYMENTS
The Government of Bermuda has entered into a strategic collaboration with WalletConnect to roll out cryptocurrency payment infrastructure across local enterprises through WalletConnect Pay, commencing with event ticketing platform Premier Tickets (PTIX) in the second quarter of 2027.
Under the agreement announced on October 29, WalletConnect will collaborate with advisory firm Penrose Partners to manage on-ground implementation. The payment architecture routes transactions directly from a user's private non-custodial wallet to merchant accounts within seconds. This operational direct-settlement model eliminates custody intermediaries and targets substantial overhead reductions for domestic merchants, who currently encounter conventional card transaction fees between 3% and 5%, and up to 10% across specialized tourism sectors.
This rollout builds upon the sovereign on-chain framework initially presented at the World Economic Forum in Davos, supported by Circle and major institutional platforms to integrate USDC stablecoin infrastructure across government agencies, commercial banks, and small businesses. In May, Bermuda designated the Stellar blockchain as the underlying settlement ledger for state-level financial services. With WalletConnect Pay integrating native Stellar support, consumers can initiate settlements directly through LOBSTR wallets alongside enterprise infrastructure partners including Fireblocks, Utila, and Arculus.
WalletConnect reports connectivity across approximately 900 million users and 700 wallets, routing over 400 billion USD in annualized volume. Penrose Partners plans to engage the Bermuda Monetary Authority's Innovation Hub under the 2018 Digital Asset Business Act framework.
DYOR. $WCT
The Government of Bermuda has entered into a strategic collaboration with WalletConnect to roll out cryptocurrency payment infrastructure across local enterprises through WalletConnect Pay, commencing with event ticketing platform Premier Tickets (PTIX) in the second quarter of 2027.
Under the agreement announced on October 29, WalletConnect will collaborate with advisory firm Penrose Partners to manage on-ground implementation. The payment architecture routes transactions directly from a user's private non-custodial wallet to merchant accounts within seconds. This operational direct-settlement model eliminates custody intermediaries and targets substantial overhead reductions for domestic merchants, who currently encounter conventional card transaction fees between 3% and 5%, and up to 10% across specialized tourism sectors.
This rollout builds upon the sovereign on-chain framework initially presented at the World Economic Forum in Davos, supported by Circle and major institutional platforms to integrate USDC stablecoin infrastructure across government agencies, commercial banks, and small businesses. In May, Bermuda designated the Stellar blockchain as the underlying settlement ledger for state-level financial services. With WalletConnect Pay integrating native Stellar support, consumers can initiate settlements directly through LOBSTR wallets alongside enterprise infrastructure partners including Fireblocks, Utila, and Arculus.
WalletConnect reports connectivity across approximately 900 million users and 700 wallets, routing over 400 billion USD in annualized volume. Penrose Partners plans to engage the Bermuda Monetary Authority's Innovation Hub under the 2018 Digital Asset Business Act framework.
DYOR. $WCT
