WalletConnect is broadening its work with the Stellar blockchain and teaming up with Penrose Partners, a Bermuda-based advisory firm, to introduce digital asset payments to merchants across the island. Announced on October 29, 2026, the initiative backs the Government of Bermuda's broader ambition to build a fully onchain national economy and bring blockchain-based financial services into everyday commerce.

Two developments anchor the announcement. Applications and wallets built on Stellar can now connect to the WalletConnect Network, the connectivity layer that links applications to users' wallets and provides access to more than 900 million end users, thousands of institutions and over 700 wallets. In parallel, WalletConnect Pay will be introduced to Bermuda merchants in collaboration with Penrose Partners, adding payment options for businesses and consumers. Through the service, Stellar wallet users will be able to pay participating merchants directly, bridging blockchain-based assets and conventional retail and commercial transactions.

Stellar Integration Expands WalletConnect Access

A group of launch partners is supporting the connection between Stellar-based wallets and the WalletConnect Network, including Fireblocks, Utila, LOBSTR and Arculus. WalletConnect Pay also handles payment processing on Stellar, enabling customers to pay merchants straight from their existing blockchain wallets. LOBSTR, a Stellar wallet developed by Ultra Stellar, was the first wallet to activate WalletConnect Pay on the network, and the service went live immediately.

Stellar supports smart contracts as well as the issuance and transfer of regulated real-world assets. Its infrastructure also lets developers and financial institutions configure compliance features such as know-your-customer requirements, asset clawbacks and sanctions controls — capabilities that become relevant when payments move through regulated commercial environments.

Raja Chakravorti, chief business officer of the Stellar Development Foundation, said Bermuda's push to weave digital assets into everyday commerce reflected the kind of practical applications Stellar was designed to support. He added that WalletConnect Pay would carry those capabilities into physical merchant payment environments, letting existing Stellar wallet holders take part.

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.

— WalletConnect (@WalletConnect) October 29, 2026

Ticketing Platform to Become Bermuda's First Merchant

Premier Tickets (PTIX), an event ticketing platform, will serve as the first merchant integration. PTIX plans to accept digital asset payments through WalletConnect Pay, and the arrangement will run on a non-custodial basis: funds move directly from a customer's wallet to the event organizer's wallet, with no assets held by PTIX during the transaction.

That structure allows the ticketing platform to process payments for multiple independent event organizers through a single integration. Organizers can receive funds within seconds, and customers gain another way to buy event tickets with digital assets.

PTIX payments are expected to launch in the second quarter of 2027, with additional merchants scheduled to join afterward. Penrose Partners will oversee merchant onboarding and local education to support adoption. The advisory firm, which organizes the island's Digital Finance Forum, also intends to apply to the Bermuda Monetary Authority's Innovation Hub to secure 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, unveiled at the World Economic Forum in January 2026. The strategy aims to fold digital assets into everyday financial infrastructure spanning government services, businesses and consumer activities.

Bermuda has argued that conventional payment systems can impose high costs and operational restrictions on small island economies. High transaction fees and the limitations of traditional payment infrastructure can fall especially hard on local merchants. The island began building its digital asset regulatory framework in 2018 with the Digital Asset Business Act, which set rules for digital asset companies operating in the jurisdiction — rules that remain the backdrop for digital asset commerce on the island today.

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.

— 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. In his view, WalletConnect Pay could give local businesses more flexible payment infrastructure and new ways to serve customers.

WalletConnect Targets Real-World Crypto Payment Adoption

WalletConnect Chief Executive Jess Houlgrave has identified payments as one of cryptocurrency's most significant practical applications. She also stressed the importance of governments establishing regulatory frameworks that let digital assets operate within real-world commercial environments.

The Bermuda initiative brings together blockchain wallet connectivity, non-custodial merchant payments and local regulatory engagement to push digital asset use beyond trading and investment. The planned rollout could lay a foundation for broader merchant adoption across Bermuda. Near-term checkpoints include the second-quarter 2027 launch of PTIX payments, the onboarding of additional merchants and the outcome of Penrose Partners' Innovation Hub application. By linking existing Stellar wallets with local businesses, WalletConnect and Penrose Partners are seeking to demonstrate how blockchain-based payment infrastructure can support everyday commercial transactions within an established regulatory framework.