M1X Global, a sovereign financial infrastructure and technology company operating under a public-private partnership with the Republic of the Marshall Islands (RMI), has announced its public launch and the close of an oversubscribed $3m angel round.
The funding, which spans strategic investments and grants, will support platform development and accelerate institutional adoption of USDM1 — the first fully collateralised sovereign debt instrument issued natively on blockchain infrastructure.
Proceeds will also fund pilot programmes with derivatives and capital markets participants, as well as continued development of M1X Global’s platform for sovereign issuers operating in on-chain markets.
The round drew participation from prominent figures across global capital markets and digital asset infrastructure, including 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 came from FJ Labs, alongside grant funding from the Stellar Development Foundation, reflecting alignment between private capital and mission-driven partners advancing blockchain-based financial infrastructure.
USDM1, the company’s flagship initiative, is a US dollar-denominated sovereign bond issued by the RMI, fully collateralised on a 1:1 basis by short-duration US Treasury instruments and structured under New York law. It is designed to provide holders with a perfected first-priority security interest in collateral, and supports the world’s first nationwide Universal Basic Income programme, delivering funds to citizens via the Lomalo digital wallet across a geographically dispersed island nation.
M1X Global builds infrastructure that enables governments to issue and manage financial instruments natively on-chain while maintaining compatibility with global institutional frameworks.
M1X Global co-founder and CEO Mark Lurie said: “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 with institutional markets.”
M1X Global co-founder and COO Jordan Goldman said: “USDM1 was structured to function beyond a single use case, including across 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.”
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