M1X Global, a sovereign financial infrastructure and technology company, today announced its public launch and the successful closing of an oversubscribed $3 million angel round. The funding will be used to develop the platform and accelerate the institutional adoption of USDM1, the first USD-denominated, treasury collateralized sovereign debt instrument issued natively by a sovereign nation on public blockchain infrastructure.

Funding Details and Investors

The $3 million in funding comes from a mix of strategic investments and grants. Notable investors include Balaji Srinivasan, former CTO of Coinbase; Tama Churchouse, CEO of Cumberland Labs; Richard Gorelick, former Head of Market Structure at DRW; and Dan Robichaud, former CIO at Intel. Institutional participation from FJ Labs and a grant from the Stellar Development Foundation demonstrate alignment between private capital and organizations focused on advancing blockchain-based market development.

USDM1: A New Approach to Sovereign Debt

M1X Global is building infrastructure to enable governments to issue and manage financial instruments directly on a blockchain, while remaining compatible with existing global institutional frameworks. USDM1, developed in partnership with the Republic of the Marshall Islands (RMI), serves as a practical example of this model.

USDM1 is a U.S. Dollar-denominated sovereign bond issued directly by the RMI government and is fully collateralized (1:1) by short-duration U.S. Treasury instruments. Structured under New York law, it provides holders with a perfected first-priority security interest in the collateral. Unlike tokenized or wrapped instruments, USDM1 offers programmable, 24/7 settlement.

Real-World Application: Universal Basic Income in the Marshall Islands

USDM1 is currently supporting the world’s first nationwide Universal Basic Income (UBI) program as a disbursement rail in the RMI. This allows for instant delivery of funds to citizens via the Lomalo digital wallet across the geographically dispersed islands.

Executive Perspectives

Mark Lurie, Co-Founder and CEO of M1X Global, stated, “M1X Global is focused on modernizing sovereign financial infrastructure for a digital, always-on capital market environment. With USDM1, we’ve demonstrated how sovereign debt can be issued as a programmable, digitally native instrument without compromising institutional standards. This funding allows us to scale that model and deepen integration across government apply and institutional markets.”

Jordan Goldman, Co-Founder and COO of M1X Global, added, “USDM1 was structured to function across domestic and regulated institutional markets. As a Treasury-backed sovereign financial instrument with look-through maintained, it can serve as high-quality collateral – improving capital efficiency and optimizing balance sheet treatment across 24/7 institutional trading and financing workflows.”

Dr. Peter Dittus, former Secretary General of the Bank for International Settlements and M1X Global advisor, said, “USDM1 applies established sovereign debt principles in a digitally native format that supports institutional capital treatment. This is a critical distinction from privately issued digital dollar instruments – and one that enables broader adoption across regulated financial institutions.”

Future Plans and Expansion

Following its public launch, M1X Global is focused on scaling the regulated institutional use of USDM1. The company plans to use the funding to expand institutional access to USDM1, launch pilot programs with derivatives and capital markets participants, and continue developing its platform for sovereign issuers operating in 24/7 on-chain markets.

M1X Global’s advisory board includes Dr. Peter Dittus and Leon Marshall, former CEO Europe at Galaxy Digital (Nasdaq: GLXY), providing expertise in capital treatment, regulatory positioning, and institutional distribution.

About M1X Global

M1X Global is a sovereign financial infrastructure and technology company bridging public finance and on-chain capital markets. The company operates in public-private partnership with the Republic of the Marshall Islands, coordinating the legal, compliance, technology, custody, and institutional infrastructure needed to integrate sovereign digital instruments with global markets.

About USDM1

USDM1 is a USD-denominated sovereign debt instrument issued natively on-chain by the Republic of the Marshall Islands, secured 1:1 by short-duration U.S. Treasury instruments held in bankruptcy remote custody. The RMI operates exclusively on the U.S. Dollar standard under its Compact of Free Association with the United States. Further information can be found in the government’s white paper: Financial Access and the Path to USDM1.

USDM1 is structured similarly to a fully collateralized Brady bond under New York law, with a customary waiver of sovereign immunity. Holders have a perfected first-priority security interest in the collateral. Unlike privately issued digital dollar instruments, USDM1 is structured as sovereign debt with collateral perfected by control under UCC, enabling compatibility with ISDA netting frameworks. Cleary Gottlieb serves as issuer’s counsel.