Bermuda Picks WalletConnect for Crypto Payments, With PTIX First in 2027

Bermuda has selected WalletConnect, a crypto connectivity network, to expand digital asset payments across the island. It is the latest step in the government's bid to become the world's first fully onchain national economy. Premier Tickets, known as PTIX, will be the first merchant on the system, with payments expected to go live in the second quarter of 2027, according to an announcement on October 29.

PTIX has served as Bermuda's primary event ticketing operation since its founding in 2009. The island's first onchain merchant is expected to go live on the Stellar network.

How the PTIX setup would work

Under the planned arrangement, payments would move directly from customers' wallets to event organizers' wallets, and the ticketing platform would not hold the funds. WalletConnect said this would let PTIX serve multiple independent organizers through a single integration, with funds arriving within seconds.

The deal accompanies the launch of WalletConnect Pay on Stellar, the blockchain Bermuda selected in May to move key payments onchain. WalletConnect Pay began supporting Stellar for merchant integrations in September 2026, and the Stellar launch runs initially through the LOBSTR wallet.

"Payments has proven to be the most impactful use case for crypto, and getting there takes governments willing to lead,"

Jess Houlgrave, WalletConnect CEO

The cost argument

The pitch rests partly on card fees. According to the Stellar Development Foundation, local merchants pay 3% to 5% per card transaction, and effective processing costs reach 10% in some categories.

Whether the new system undercuts that is unproven. Neither transaction volumes nor the fees PTIX will pay have been disclosed, and the government did not say how much the new system would charge.

Context

Bermuda announced its onchain economy plan in January 2026 with support from Circle and Coinbase. In May, Premier David Burt outlined a USDC airdrop alongside efforts to enroll merchants. Our earlier piece on how Bermuda is betting on stablecoins to rewire its national economy covers the broader strategy. The legal groundwork dates to the Digital Asset Business Act of 2018, and firms such as Bitcoin Suisse have won Bermuda dual licenses for digital asset operations.

Event tickets are a modest starting point. The broader vision involves putting digital asset activity, wages and government fees onchain. Moving wages and fees would be a clearer signal that the plan is more than a branding exercise.

Several questions remain open. It is unclear whether more merchants will follow PTIX, or how the Circle and Coinbase collaboration fits with the Stellar and WalletConnect stack.