Bermuda Goes On-Chain: Why Jamaica Should Pay Close Attention

Kingston, Jamaica — 21 January 2026

Bermuda’s announcement that it intends to become the world’s first fully on-chain national economy has drawn international attention to how small island states manage money, payments, and economic infrastructure. For Jamaica, the development matters not because it signals an immediate policy shift, but because it highlights structural pressures already affecting housing, real estate transactions, and financial access across the island.

The Bermudian government has confirmed plans to work with major digital asset firms to embed blockchain-based payments and stablecoins into everyday economic activity. The stated aim is to reduce reliance on traditional payment rails that are often costly and restrictive for small, internationally connected economies. While the policy is being framed as a financial innovation, its implications extend directly into how property is bought, sold, financed, and maintained.

Why payment systems matter to real estate

In Jamaica, real estate operates within a hybrid financial reality. Property sales, development finance, and rental income are frequently denominated in foreign currencies, particularly US dollars and pounds sterling, while almost all statutory fees, taxes, and household costs are payable in Jamaican dollars. This creates persistent friction.

International transfers into Jamaican banks often attract higher fees and less favourable exchange rates than comparable transactions in larger markets. Timing matters. Exchange rate movements can materially affect affordability, development costs, and final purchase prices, particularly on projects where margins are tight or funding is staged.

These pressures are felt most clearly in areas such as:

• Residential sales involving overseas buyers
• Short-term rental income paid through international platforms
• Development projects reliant on foreign capital
• Families receiving remittances used for housing or land improvement

While these issues are widely recognised within the sector, they are rarely framed as infrastructure problems. Bermuda’s move brings that framing into focus.

Bermuda’s approach and its relevance

Bermuda is not introducing cryptocurrency as a speculative asset. Its policy centres on regulated, dollar-pegged digital currencies designed to move value more efficiently through the economy. The government has spent several years developing a legal framework for digital assets before expanding their use.

For Jamaica, the relevance lies less in the technology itself and more in the sequencing: regulation first, implementation second, education alongside adoption. In real estate terms, this approach aligns with the need for systems that prioritise certainty, traceability, and compliance.

Faster settlement, lower transaction costs, and improved transparency could, in theory, reduce some of the friction currently embedded in property transactions and housing finance. For developers, this could mean more predictable cash flow. For buyers, greater clarity around costs. For households, potentially lower leakage of value through fees.

Risks that cannot be ignored

There are, however, significant risks. Stablecoins are typically tied to external currencies, particularly the US dollar. A heavy reliance on such instruments could increase Jamaica’s exposure to external monetary decisions over which it has no control. Currency dilution, inflation transmission, and regulatory dependency are real concerns.

These risks already exist within the traditional banking system, but digital systems can amplify them if adopted without diversification or safeguards. Any future consideration by Jamaica would need to be cautious, incremental, and firmly anchored in domestic regulation.

As Dean Jones, founder of Jamaica Homes, noted, “Technology can reduce friction, but it cannot replace sound policy. For Jamaica, the question is not whether digital finance is coming, but how to engage with it without compromising long-term stability.”

Implications for land, housing, and development

Beyond transactions, payment infrastructure shapes how land and housing function over generations. Delays in settlement can stall development. High transfer costs can limit affordability. Uncertainty in funding can discourage smaller builders and community-led projects.

There is also a longer-term question around records and ownership. Jamaica has made progress in digitising aspects of land administration, but systems remain fragmented. Internationally, blockchain-based registries are being explored as tools to improve transparency and reduce disputes. Bermuda’s experiment may offer lessons, though any local application would need to reflect Jamaica’s legal and social context.

A moment for observation, not imitation

Bermuda’s move does not provide a template to be copied. The two economies differ in scale, structure, and exposure. What it does provide is a live case study in how small jurisdictions are rethinking the foundations that support commerce, housing, and security.

For Jamaica, the immediate task is not adoption but assessment. Understanding where friction exists, who bears its cost, and how it affects land use, housing access, and development resilience is a necessary starting point.

Real estate is not just about buildings. It is about systems that allow people to secure shelter, invest for the future, and transfer value across generations. As global financial infrastructure evolves, those systems will come under increasing pressure to adapt.

Whether Jamaica chooses to engage with similar models in the future remains an open question. What is clear is that the conversation is no longer theoretical, and the implications reach well beyond finance into the heart of property, land, and long-term security.

Disclaimer: This article is for general information and commentary purposes only and does not constitute legal, financial, or investment advice. Readers should seek professional guidance appropriate to their individual circumstances.