M1X Global Completes $5.5M Seed Funding Round Led by Paradigm

XLM-1.99%
SOL0.32%
According to ChainCatcher, tokenized sovereign debt startup M1X Global completed a $5.5 million seed funding round led by Paradigm, with Breed VC and other investors participating. The company's flagship product, USDM1, is a tokenized sovereign debt instrument issued natively on-chain by the Marshall Islands, backed 1:1 by U.S. Treasury securities. Originally launched on Stellar, USDM1 is now available on Canton and Solana networks. M1X aims to establish USDM1 as on-chain sovereign collateral and expand its use across regulated financial markets. Initial use cases include government aid disbursement to Marshall Islands citizens via the Lomalo wallet, enabling fund transfers in seconds. Recently, M1X integrated with Bank of Guam, an FDIC-insured bank, further connecting USDM1 to regulated banking infrastructure.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments