M1X Global, a sovereign financial infrastructure and technology company, today announced its public launch alongside the close of an oversubscribed $3 million angel round. The funding, spanning strategic investments and grants, will support platform development and accelerate regulated institutional adoption of USDM1, the first USD-denominated, treasury collateralized sovereign debt instrument issued natively by a sovereign on public blockchain infrastructure.
The $3 million in funding drew participation from leading 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 from FJ Labs and grant funding from Stellar Development Foundation reflect strong alignment between private capital and mission-driven partners advancing blockchain-based market development.
M1X Global is building infrastructure that enables governments to issue and manage financial instruments natively onchain while maintaining compatibility with global institutional frameworks. Its flagship initiative, USDM1, developed in public-private partnership with the Republic of the Marshall Islands (RMI), provides a working example of this model. Issued directly by the government of the RMI, USDM1 is a US dollar-denominated sovereign bond fully collateralized (1:1) by short-duration US Treasury instruments and structured under New York law, designed to provide holders with a perfected first-priority security interest in collateral. USDM1 is not a tokenized or wrapped instrument and maintains programmable, 24/7 settlement.
USDM1 supports the world’s first nationwide Universal Basic Income program as a disbursement rail in the RMI, enabling instant delivery of funds to citizens via the Lomalo digital wallet across one of the world’s most geographically dispersed island nations.
Mark Lurie, Co-Founder and Chief Executive Officer of M1X Global, 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 across government use 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.”
Following its public launch, M1X Global is coordinating and scaling regulated institutional use of USDM1. By combining sovereign exposure with US Treasury collateralization, USDM1 introduces a new category of digitally native, collateralized sovereign debt that integrates with trading, financing, and liquidity workflows with institutional compatibility and legal certainty.
Proceeds from the round will fund expanded institutional access for USDM1, pilot programs with derivatives and capital markets participants, and continued development of M1X Global’s platform for sovereign issuers operating in 24/7 onchain markets. M1X Global’s advisory board includes Dr. Peter Dittus supporting capital treatment and regulatory positioning and Leon Marshall, former CEO Europe at Galaxy Digital (Nasdaq: GLXY), supporting institutional distribution and market development.