Overview
- M1X Global announced an oversubscribed seed led by Paradigm that, the company says, brings its total funding to $8.5 million in the weeks after its public launch on July 7.
- USDM1 is a U.S. dollar–denominated sovereign bond issued on blockchain by the Republic of the Marshall Islands and is not a stablecoin.
- The instrument is structured to be fully collateralized 1:1 by short‑duration U.S. Treasuries with security interests governed under New York law to provide traditional legal protections for holders.
- M1X coordinated the issuance with legal and market partners including Cleary Gottlieb, Anchorage Digital Bank, the Stellar Development Foundation, Inca Digital, Guidepost, and Crossmint and has taken part in institutional working groups with firms such as Bank of America and DTCC.
- Reporting differs on the seed size—some outlets cited a $5.5 million round while M1X and its release present $8.5 million as total funding including an earlier $3 million angel raise—and the company says the capital will support institutional rollout, domestic use cases like programmed public disbursements, and integration into around‑the‑clock markets.