Bermuda is a [[British Overseas Territory (BOT)]] and significant offshore financial center located in the North Atlantic. Its sophisticated economy combines financial services, tourism, and increasingly, digital assets business. Key economic sectors include insurance/reinsurance (particularly catastrophe insurance), offshore financial services, high-end tourism, and emerging fintech services. The territory uses the Bermuda Dollar (pegged to USD) and operates under a well-regulated financial system based on English common law. Known for its robust regulatory framework, Bermuda has positioned itself as a leader in digital asset regulation while maintaining its traditional strengths in insurance and financial services. Despite its small size, it's one of the world's largest reinsurance centers, though faces challenges with high living costs and the need to maintain competitiveness in global financial markets.