BitGo said it will provide custody and over-the-counter settlement services for USDM1, a native on-chain sovereign bond issued by the Marshall Islands. The instrument is backed 1:1 by short-term U.S. Treasuries and is available across Stellar, Ethereum and Solana, with T+0 settlement running around the clock. According to the report cited by Techub, the Marshall Islands government plans to use the bond in its nationwide universal basic income program to distribute government funds to citizens. The update points to a government-linked use case for tokenized sovereign debt, with BitGo handling custody and OTC settlement infrastructure for the product.
BitGo said it will provide custody and over-the-counter settlement services for USDM1, according to Techub News.
USDM1 is a native on-chain sovereign bond issued by the Marshall Islands and backed 1:1 by short-term U.S. Treasuries. The bond supports Stellar, Ethereum and Solana, enabling T+0 settlement on a 24/7 basis.
The Marshall Islands government plans to use the bond for its nationwide universal basic income program to distribute government funds to citizens. Techub attributed the information to CryptoBriefing.
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