M1X Global, a sovereign financial infrastructure and technology company, announced its public launch alongside the close of an oversubscribed $3 million angel round to advance on-chain sovereign finance.
The funding includes a mix of strategic investments and grants and will support continued platform development, while accelerating adoption among regulated institutional investors. Participants in the round include Balaji Srinivasan, Tama Churchouse, Richard Gorelick, Dan Robichaud, FJ Labs, and the Stellar Development Foundation.
M1X Global is focused on enabling governments to issue and manage financial instruments directly on blockchain infrastructure while maintaining compatibility with existing global institutional frameworks. Its flagship product, USDM1, represents a new category of sovereign financial instrument.
Developed in partnership with the Republic of the Marshall Islands, USDM1 is a U.S. dollar denominated sovereign bond issued natively on-chain. It is fully collateralized one to one by short-duration U.S. Treasury instruments and structured under New York law. The instrument provides holders with a first-priority security interest in the underlying collateral and operates with programmable, continuous settlement.
Unlike tokenized or wrapped digital assets, USDM1 is issued directly by a sovereign entity and is designed to integrate with institutional capital markets infrastructure. It is structured to function as high-quality collateral, supporting use cases across margin, repo, and financing workflows while improving capital efficiency.
The instrument also supports a nationwide universal basic income program in the Marshall Islands, serving as a distribution rail through the Lomalo digital wallet. This enables instant payments across a geographically dispersed population.
M1X Global plans to use proceeds from the round to expand institutional access to USDM1, launch pilot programs with derivatives and capital markets participants, and further develop its platform for sovereign issuers operating in 24/7 on-chain markets.
The company’s advisory board includes Dr. Peter Dittus, former Secretary General of the Bank for International Settlements, and Leon Marshall, former CEO Europe at Galaxy Digital, supporting regulatory positioning and institutional distribution.
Support: Cleary Gottlieb serves as issuer’s counsel, advising on the structuring of USDM1 under New York law.
KEY QUOTES:
“M1X Global is focused on modernizing sovereign financial infrastructure for a digital, always-on capital market environment. This funding allows us to scale that model and deepen integration across government use and institutional markets. With USDM1, we’ve demonstrated how sovereign debt can be issued as a programmable, digitally native instrument without compromising institutional standards.”
Mark Lurie, Co-Founder And Chief Executive Officer, M1X Global
“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.”
Jordan Goldman, Co-Founder And Chief Operating Officer, M1X Global
“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.”
Dr. Peter Dittus, Advisor, M1X Global And Former Secretary General, Bank For International Settlements
