Report highlights Bermuda as a digital finance leader
The Ministry of Economy and Labour is highlighting its practical initiatives that have created the island’s growing fintech market.
The Ministry said that since 2018, Bermuda had positioned itself as a global leader in fintech, insurtech and digital finance through the Bermuda Triangle model, which involved close collaboration between the Government, regulators and industry.
This partnership has enabled the development of pioneering frameworks in insurance-linked assets, derivatives exchanges and yield-bearing stablecoins, according to the Government’s 2024 Annual Fintech Report.
Jason Hayward, the Minister of Economy and Labour, said: “As a forward-looking jurisdiction, Bermuda does more than react to global trends and shifts. It is actively shaping them.
“Whether integrating [artificial intelligence] into financial services, embracing decentralised systems or championing programmable money, we are forging ahead in ways that reinforce our economy and empower the Bermudian population.”
Key initiatives have included the updated regulations for digital assets, payments and insurtech; new frameworks in digital identity, decentralised finance, AI and climate finance; and strengthened digital infrastructure, upskilling programmes and technology pilots.
The Government has invited businesses and innovators to explore Bermuda's thriving ecosystem and encourages the public to read the report, available at gov.bm.
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