This month’s Digital Finance Forum not only boosted the local economy by $1 million but also exploded interest in cryptocurrency, said one organiser.

“The real impact of the event came from the education and training on digital finance,” said Sean Stapley, senior partner at Penrose Partners.

His Bermuda blockchain advisory firm sponsored the three-day conference with global investment platform SALT and firms Circle and Coinbase.

All attendees who downloaded the Coinbase Wallet app received $100 in USDC cryptocurrency, issued by Circle, which could be spent in a vendor village.

The activation generated nearly $40,000 in digital dollar transactions.

“We are still seeing growing interest in digital payments locally, with many of our vendors now continuing to accept digital payments,” Mr Stapley said.

Around 500 people attended the Digital Finance Forum, with nearly 40 per cent of attendees, on day two and three, from overseas.

Mr Stapley was thrilled with the conference’s impact on the island and how well the Bermudian community adopted these technologies.

“There is excitement for further activations,” he said.

He wants to keep the momentum going with more sessions for local businesses and entrepreneurs to help them confidently adopt digital payment methods.

The forum has caught the attention of the international media with an article about the event appearing on PR Wire.

The news website called the forum’s cryptocurrency giveaway “one of the world’s first fully compliant stablecoin airdrop to local residents”.

Tom Duff Gordon, vice-president of international policy at Coinbase, said his company had long admired Bermuda’s forward-thinking approach to digital finance.

“At Coinbase, our mission is to increase economic freedom in the world and we are proud to support one of the world’s first grass roots-regulated stablecoin activations,” he said.

Vendor Ashley Stephens, of Ashley’s Lemonade, said: “Setting up the Coinbase Wallet app and accepting USDC payments was easier than I thought it would be.”

She planned to continue accepting digital payments.

The Government was highly supportive of the forum, providing 150 complimentary tickets to ensure inclusive community participation. David Burt, the Premier, was a speaker.

“We have a huge opportunity in this sector,” Mr Burt said. “Through events like this, the partnerships have onboarded our residents and local businesses into digital wallets so that they can accept and transact in digital dollars.”