Marshall Islands digital sovereign bond endorsed by crypto giants
ChainCatcher news: M1X Global, the organization behind the Marshall Islands UBI program, has completed a $3 million angel round of financing. Investors include former CTO of an exchange Balaji Srinivasan, Cumberland Labs CEO Tama Churchouse, and other figures in the crypto industry. The funds will be used to drive the expansion of USDM1 digital sovereign bonds into institutional markets.
USDM1 was launched on the Stellar blockchain in December last year, but the IMF has previously warned that the project poses fiscal risks and network security vulnerabilities, stating that its returns are disproportionate to its risks.
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