Bermuda plans to transition its entire economy on-chain with the help of Coinbase and Circle. The initiative includes government stablecoin pilots and aims to lower transaction costs and improve financial access for residents and businesses.

Coinbase is negotiating to buy BVNK, a startup focused on stablecoin infrastructure, for around $2 billion. The deal is nearing completion but still depends on due diligence and could change or fall through. Coinbase Ventures has already invested in BVNK.

Coinbase is eliminating fees for purchases of PayPal's stablecoin, PayPal USD (PYUSD), to boost its adoption and usage among consumers and institutions. The collaboration aims to create stablecoin-based solutions for global money management, as competition in the stablecoin market intensifies with legislative developments and new product launches from companies like Circle and Ripple.

Coinbase has launched a new platform that allows businesses to easily accept stablecoin payments, aiming to simplify cryptocurrency transactions for merchants. The initiative is part of Coinbase's ongoing efforts to expand its services and cater to the growing demand for crypto payment solutions in the business sector.