CoinDesk
Bermuda is working with WalletConnect to bring crypto payments to local merchants, starting with ticketing platform PTIX in the second quarter of 2027. Under the planned setup, customers would pay event organizers directly from their wallets, with funds arriving within seconds. The initiative is part of Bermuda’s ambition to build the world’s first fully onchain national economy.
Why it matters
Local businesses pay 3% to 5% per card transaction, with effective processing costs reaching 10% in some categories, according to the Stellar Development Foundation. Bermuda has not disclosed the fees for the proposed system, so the potential savings are not yet clear. Still, direct wallet-to-wallet payments would avoid PTIX holding funds and let the platform serve multiple independent event organizers through one integration.
Bermuda announced its onchain economy plan in January with support from Circle and Coinbase. In May, Premier David Burt outlined plans for an airdrop of Circle’s USDC and efforts to enroll merchants, arguing that people and businesses need places to spend the digital assets they receive.
Market impact
The PTIX launch is expected in Q2 2027, with more merchants anticipated to follow. Penrose Partners will support merchant onboarding and local education.
The deal also comes as WalletConnect Pay launches on Stellar, initially through the LOBSTR wallet. WalletConnect is adding broader support for Stellar wallets and applications across its network. The rollout puts merchant adoption, payment costs and practical places to spend USDC at the center of Bermuda’s onchain ambitions.
Frequently asked questions
-
When are WalletConnect payments expected to launch through PTIX?
Payments through ticketing platform PTIX are expected to go live in the second quarter of 2027.
-
How would PTIX payments move between customers and event organizers?
Customers would pay directly from their wallets to organizers’ wallets. PTIX would not hold the funds, which are expected to arrive within seconds.
-
How much do local merchants currently pay for card transactions?
Local businesses pay 3% to 5% per card transaction, with effective processing costs reaching 10% in some categories, according to the Stellar Development Foundation.
-
Has Bermuda disclosed the fees for the proposed payment system?
No. Bermuda has not disclosed what the new system would charge, so the potential savings for merchants are not yet clear.
-
How does the PTIX rollout connect to Bermuda’s broader onchain plan?
Bermuda’s plan includes enrolling merchants and an outlined airdrop of Circle’s USDC. WalletConnect Pay is also launching on Stellar, initially through the LOBSTR wallet.
WuBlockchain
CoinTelegraph
Crypto News