Walkers Publishes Fintech White Paper
Walkers published a fintech white paper during the Consensus conference, featuring insights from Rachel Nightingale on how Bermuda is navigating the evolving digital asset landscape.
A spokesperson said, “Walkers, the international legal and professional services firm, has published a fintech white paper in parallel with industry discussions at Consensus, exploring the evolving role of leading financial centres in supporting innovation while maintaining robust regulatory standards.
“The paper features contributions from Rachel Nightingale, partner in the firm’s Bermuda office, who provides in-depth commentary on how jurisdictions such as Bermuda are artfully navigating the rapidly changing digital asset landscape.
“In the paper, Rachel highlights how Bermuda is embracing innovation in areas such as stablecoins while ensuring clarity and oversight within existing frameworks. ‘Bermuda has already licensed several stablecoin providers and has issued bespoke guidance for single-currency pegged stablecoins,’ she explains. ‘This provides additional clarity around the design and operation of these models within the existing regulatory framework.’
“The white paper also examines a broader shift in regulatory philosophy, with Rachel emphasising the role of regulation as a facilitator of growth rather than a barrier. She points to Bermuda’s Digital Asset Business Act as a leading example of a structured yet flexible approach:
“’Bermuda’s Digital Asset Business Act illustrates how well-designed regulation accelerates rather than constrains growth. Licensed firms progress from a Test Licence [Class T] to a Modified Licence [Class M] to a Full Licence [Class F], with capital thresholds, risk management and governance requirements scaled to each stage.’
“She adds that this phased approach allows businesses to build a commercial track record while raising capital in parallel, reducing friction at critical stages of growth often impacted by regulatory uncertainty.
“Rachel also highlights the proactive role of the Bermuda Monetary Authority [BMA], noting its commitment to ongoing industry engagement and regulatory refinement. The BMA has recently completed an industry-wide consultation on asset tokenisation and issued a draft consultation paper aimed at streamlining processes and clarifying how tokenised activities interact across legislative frameworks.
“The white paper concludes by examining how leading jurisdictions are increasingly leaning into innovation and argues that the most effective regulators are evolving into long-term partners to industry, rather than acting solely as traditional gatekeepers.
“The full paper is available to read online here.”
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