The Marshall Islands Ministry of Finance, Banking and Postal Services has partnered with FDIC-insured Bank of Guam to support deposits and withdrawals for USDM1 and to integrate with the Lomalo digital wallet. According to Foresight News, the integration will allow Bank of Guam’s existing customers to transfer funds between the Lomalo wallet and their bank accounts.
USDM1 is a U.S. dollar-denominated sovereign debt instrument issued by the Marshall Islands government on a public blockchain. It is fully collateralized 1:1 by short-term U.S. Treasury bills, with collateral held in bankruptcy-remote custody by a U.S. trust company and structured under New York state law.
The ministry said the structure is intended to meet the Basel standards criteria for recognition as a high-quality liquid asset (HQLA).
M1X Global serves as the project’s coordinating agent. The Marshall Islands uses the U.S. dollar as legal tender under the Compact of Free Association (COFA) with the United States.
USDM1 has been used as a distribution channel for the country’s universal basic income program, with real-time disbursements to citizens across the islands through the Lomalo wallet.
Marshall Islands Partners With Bank of Guam to Support USDM1 Deposits, Withdrawals, and Wallet Integration
2026-06-22 13:33:47
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