WalletConnect is expanding its integration with the Stellar blockchain while partnering with Bermuda-based advisory firm Penrose Partners to introduce digital asset payments to merchants across the island. The initiative supports the Government of Bermuda’s broader ambition to establish a fully onchain national economy, bringing blockchain-based financial services into everyday commercial activities.
The announcement includes two developments. First, applications and wallets built on Stellar can now connect to the WalletConnect Network, which provides access to more than 900 million end users, thousands of institutions and over 700 wallets. Second, WalletConnect Pay will be introduced to Bermuda merchants through collaboration with Penrose Partners, creating additional payment options for businesses and consumers.
The integration allows Stellar wallet users to make payments directly to participating merchants through WalletConnect Pay, connecting blockchain-based assets with conventional retail and commercial transactions.
Stellar Integration Expands WalletConnect Access
The integration includes several launch partners supporting the connection between Stellar-based wallets and the WalletConnect Network. These include Fireblocks, Utila, LOBSTR, and Arculus.
WalletConnect Pay also supports payment processing on Stellar, enabling customers to pay merchants directly from their existing blockchain wallets. LOBSTR, a Stellar wallet developed by Ultra Stellar, became the first wallet to activate WalletConnect Pay on the network, with the service immediately available.
Stellar supports smart contracts and the issuance and transfer of regulated real-world assets. Its infrastructure also allows developers and financial institutions to configure compliance features, including know-your-customer requirements, asset clawbacks and sanctions controls.
Raja Chakravorti, chief business officer of the Stellar Development Foundation, said Bermuda’s efforts to integrate digital assets into everyday commerce reflected practical applications that Stellar was designed to support. He also indicated that WalletConnect Pay would extend those capabilities to physical merchant payment environments, allowing existing Stellar wallet holders to participate.
Ticketing Platform to Become Bermuda’s First Merchant
The initial merchant integration will involve Premier Tickets (PTIX), an event ticketing platform that plans to accept digital asset payments through WalletConnect Pay.
The payment arrangement will operate on a non-custodial basis. Funds will move directly from a customer’s wallet to the event organizer’s wallet, without being held by PTIX during the transaction.
This structure allows the ticketing platform to support payments for multiple independent event organizers through a single integration. Organizers can receive payments within seconds, while customers gain another option for purchasing event tickets using digital assets.
PTIX payments are expected to launch in the second quarter of 2027, with additional merchants scheduled to join the initiative afterward.
Penrose Partners will oversee merchant onboarding and local education to support adoption. The Bermuda-based advisory firm, which organizes the island’s Digital Finance Forum, also plans to apply to the Bermuda Monetary Authority’s Innovation Hub to establish closer regulatory cooperation during the rollout.
Bermuda Advances Its Onchain Economy Strategy
The initiative builds on the Bermudian government’s plan to develop an onchain economy, announced at the World Economic Forum in January 2026. The strategy seeks to incorporate digital assets into everyday financial infrastructure across government services, businesses and consumer activities.
BREAKING: WalletConnect is expanding support for @StellarOrg.
Apps and wallets across Stellar can now connect to 900M end users, thousands of institutions, 700+ wallets, exchanges across WalletConnect.
Proud to launch alongside @FireblocksHQ, @utila_io, @thisisarculus, @lobstr. https://t.co/ZzDeT4CiP3
— WalletConnect (@WalletConnect) October 29, 2026
Bermuda has argued that conventional payment systems can impose high costs and operational restrictions on small island economies. High transaction fees and limitations associated with traditional payment infrastructure can particularly affect local merchants.
The island began establishing its digital asset regulatory framework in 2018 through the Digital Asset Business Act, which introduced rules governing digital asset companies operating in the jurisdiction.
WalletConnect Pay is coming to Bermuda in collaboration with @PartnersPenrose.
Merchants across the island will soon be able to accept crypto, starting with Premier Tickets (PTIX).
Payments go straight from customer to event organizer, in seconds. https://t.co/khObUpVjiq
— WalletConnect (@WalletConnect) October 29, 2026
G Clay Miller, a partner at Penrose Partners, said Bermuda had made progress in digital finance adoption over the preceding two years. He indicated that WalletConnect Pay could provide local businesses with more flexible payment infrastructure and additional ways to serve customers.
WalletConnect Targets Real-World Crypto Payment Adoption
WalletConnect Chief Executive Jess Houlgrave identified payments as one of the most significant practical applications of cryptocurrency. She also emphasized the importance of governments establishing regulatory frameworks that allow digital assets to operate within real-world commercial environments.
The Bermuda initiative combines blockchain wallet connectivity, non-custodial merchant payments and local regulatory engagement to expand the use of digital assets beyond trading and investment activities.
The planned rollout could provide a foundation for broader merchant adoption across Bermuda. By connecting existing Stellar wallets with local businesses, WalletConnect and Penrose Partners are seeking to demonstrate how blockchain-based payment infrastructure can support everyday commercial transactions while operating within an established regulatory framework.
