Marshall Islands digital sovereign bonds are endorsed by crypto giant

M1XGlobal, the company behind the UBI plan in the Marshall Islands, has completed a US$3 million angel round of financing. Investors include crypto industry figures such as Coinbase's former CTO Balaji Srinivasan and Cumberland LabsCEOTamaChurch. The funds will be used to promote 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 warned that the project has financial risks and cybersecurity loopholes, arguing that its benefits are disproportionate to the risks.