WalletConnect Expands Stellar Network Support and Partnership with Penrose Partners to Bring Walletconnect Pay to Bermuda in Support of the Government’s Onchain Economy Vision
WalletConnect has expanded its network support to include the Stellar blockchain, enabling seamless connectivity for wallets and applications within the ecosystem. In a strategic move to support Bermuda's vision of becoming the world's first fully onchain economy, WalletConnect is partnering with Penrose Partners to introduce WalletConnect Pay to local merchants. The ticketing platform Premier Tickets (PTIX) will serve as the first merchant, allowing customers to pay for event tickets directly from their Stellar wallets starting in Q2 2027. This integration facilitates direct peer-to-peer payments between customers and event organizers, bypassing traditional payment rails to reduce costs and settlement times. The initiative aligns with Bermuda's long-standing regulatory framework, established by the 2018 Digital Asset Business Act, to integrate digital assets into everyday commerce. By leveraging WalletConnect’s infrastructure, which supports 900 million users and $400 billion in annual volume, the project aims to provide a scalable model for national digital asset adoption. This development highlights the growing trend of sovereign states utilizing blockchain technology to modernize financial infrastructure and improve merchant payment efficiency.