M1X Global Raises $3 Million to Expand Marshall Islands Digital Bond

The Marshall Islands introduced USDM1 on the Stellar blockchain in December 2025 as a U.S. dollar-denominated sovereign bond backed one-for-one by short-term U.S. Treasuries. Distributed through the Lomalo wallet, the instrument supports the Pacific nation’s universal basic income program while testing whether blockchain-based sovereign debt can also serve regulated capital markets. The International Monetary Fund has warned that limited infrastructure, regulatory gaps and risk-management capacity could complicate broader deployment.

M1X Global said on March 25, 2026, that it had publicly launched and closed an oversubscribed $3 million angel round. Backers included former Coinbase chief technology officer Balaji Srinivasan, Cumberland Labs CEO Tama Churchouse and FJ Labs, with grant support from the Stellar Development Foundation. The proceeds will fund platform development, wider institutional access to USDM1 and pilot programs with derivatives and capital-markets participants, positioning the bond for use as collateral in round-the-clock trading and financing workflows.