Stellar Launches National Payment Partnership with Bermuda, Eyes 3-5% Fee Reduction

According to the Stellar Development Foundation and Bermuda Government announcement, the island will launch digital wallets, stablecoin-based payments, and merchant settlement on the Stellar network as part of its plan to become the first fully onchain economy. The partnership marks the first operational phase following Bermuda’s January 2026 commitment at the World Economic Forum.

Residents and government agencies will be able to use Stellar-based wallets for wage disbursements, merchant payments, fee settlements, and digital asset transfers. Local merchants currently face 3% to 5% in card transaction fees, with some categories reaching 10% in total payment-processing costs. The government said digital payments could reduce costs and keep more transaction value within the local economy.