Bermuda expands crypto payments plan with WalletConnect for merchant rollout

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Bermuda expands crypto payments

Highlights

Bermuda selected WalletConnect and Stellar to expand crypto payments, with Premier Tickets (PTIX) as the first merchant, launching in Q2 2027.
The system sends funds instantly from customers' wallets to event organizers via Stellar, avoiding PTIX holding funds and reducing processing complexity.
Bermuda aims to lower merchant costs versus traditional 3%-10% card fees, leveraging stablecoin USDC, with more merchant adoption expected after PTIX joins.

Ticketing launch and payments structure

As reported by CoinDesk, Bermuda has selected WalletConnect to widen crypto payments across the island, with Premier Tickets, or PTIX, becoming the first merchant in the system. Payments are expected to go live in the second quarter of 2027, under a model that sends funds directly from customers' wallets to event organizers' wallets rather than through the ticketing platform.

That structure means PTIX would not hold customer funds while serving multiple independent organizers through a single integration. WalletConnect says the setup allows funds to arrive within seconds, alongside the launch of WalletConnect Pay on Stellar, initially through LOBSTR, a wallet built by Ultra Stellar.

Bermuda chose Stellar in May as the blockchain for moving key payments onchain. WalletConnect is also broadening support for Stellar wallets and applications across its network as the project develops.

Cost pressures and broader merchant adoption

The government is trying to reduce reliance on traditional payment services that it says are costly for local merchants. According to the Stellar Development Foundation, local businesses pay 3% to 5% per card transaction, while effective processing costs can reach 10% in some categories, though the government has not said what the new system would charge.

Bermuda announced its onchain economy plan in January with support from stablecoin issuer Circle Internet and crypto exchange Coinbase Global. Premier David Burt said in May that the government was planning an airdrop of Circle's USDC while signing up merchants, arguing the island needed more places where residents and businesses could spend digital assets they receive.

Penrose Partners, a Bermuda-based advisory firm that co-hosts the island's Digital Finance Forum with SALT, is supporting merchant onboarding and local education. WalletConnect CEO Jess Houlgrave said in a statement that payments are proving to be crypto's most impactful use case, and more merchants are expected to join after PTIX.

In our earlier report on Philippine e-commerce payment trends, we noted that cash-on-delivery still accounts for a sizable share of online purchases even as QR and bank-transfer usage accelerates. The piece highlighted how limited payment choice can directly hurt conversion, with many shoppers abandoning carts when their preferred method isn’t available—pushing merchants to expand payment options while strengthening fraud controls.

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