M1X Global Secures $3 Million to Launch On-Chain Sovereign Debt Infrastructure

M1X Global, a sovereign financial technology company, announced its public launch today alongside the close of an oversubscribed $3 million angel round. This investment aims to accelerate the development of USDM1, a digitally native sovereign debt instrument issued by the Republic of the Marshall Islands. The funding will support platform scaling and broader institutional adoption of on-chain treasury assets.

USDM1 is the first USD-denominated sovereign bond collateralized 1:1 by short-duration U.S. Treasury instruments and issued directly on public blockchain infrastructure. Unlike typical stablecoins, this instrument is structured under New York law to provide holders with a perfected first-priority security interest in the underlying collateral. It maintains programmable, 24/7 settlement capabilities while remaining compatible with global institutional frameworks.

The infrastructure already supports the world's first nationwide Universal Basic Income program in the Marshall Islands, delivered through the Lomalo digital wallet. This system allows for the instant delivery of funds to a population spread across remote islands, bypassing traditional banking bottlenecks. To ensure efficiency, M1X Global integrates artificial intelligence within its compliance and eligibility verification layers, automating real-time checks for benefit recipients.

The $3 million angel round attracted prominent industry leaders including Balaji Srinivasan, former CTO of Coinbase, and Tama Churchouse, CEO of Cumberland Labs. Other participants included Richard Gorelick and Dan Robichaud, alongside institutional support from FJ Labs and grant funding from the Stellar Development Foundation. These partners represent a strategic alignment between global capital markets and digital asset infrastructure.

M1X Global CEO Mark Lurie noted that the funding allows the company to deepen integration across government use cases and regulated institutional markets. Future plans include pilot programs with derivatives participants to showcase USDM1 as high-quality liquid asset collateral for institutional trading and financing workflows. This expansion aims to bridge the gap between traditional public finance and the emerging digital economy.