Despite an IMF warning regarding the potential risks, the Marshall Islands is proceeding with a partnership which could expand its digital sovereign bond to institutional markets.
The company behind the Republic of the Marshall Islands’ universal basic income (UBI) program using a US dollar-pegged sovereign financial instrument has attracted some significant crypto-tied backers.
In a Tuesday notice shared exclusively with Cointelegraph, M1X Global announced that it had launched following a $3 million angel investment round by current and former executives connected to crypto and financial services companies.
According to the company, the funding will support the development and adoption of the USDM1 digital sovereign bond which allows citizens of the Republic of the Marshall Islands to access the UBI program.
