Marshall Islands basic income effort gains crypto-connected backers
Despite an IMF warning regarding the potential risks, the Marshall Islands is proceeding with a partnership which could expand its digital sovereign bond to institutional markets.
Update (March 25 8:22PM UTC): This article has been updated to clarify the role of M1X Global in the first paragraph.
The technology provider building the infrastructure for the Republic of the Marshall Islands’ universal basic income (UBI) program which will use a US dollar-pegged sovereign financial instrument has attracted some significant crypto-tied backers.
In a Tuesday notice shared exclusively with Cointelegraph, M1X Global announced that it had launched following a $3 million angel investment round by current and former executives connected to crypto and financial services companies.