M1X Global raises $5.5 million seed round led by Paradigm for Marshall Islands bond push
The firm, which launched the Marshall Islands' tokenized sovereign debt instrument USDM1, said the new funding will support institutional adoption across repo, margin and collateral financing workflows.
M1X Global has raised a $5.5 million seed round led by Paradigm as it expands institutional use of USDM1, the Marshall Islands' dollar-denominated sovereign debt instrument issued directly on public blockchains. The company said USDM1 is backed 1:1 by short-term U.S. Treasuries under a New York legal framework, and that the new capital will support integrations for repo, margin and collateral financing with banks, custodians and trading platforms. M1X also said it previously raised an oversubscribed $3 million angel round in March 2026 that included Balaji Srinivasan, adding to investor backing for efforts to bring sovereign debt onto blockchain-based market infrastructure.
- onchain sovereign debt: Government debt issued, recorded or managed using blockchain-based infrastructure rather than only through traditional market systems.
- repo: A short-term funding transaction in which securities are sold and later repurchased, commonly used for liquidity and collateral management.
- collateral financing: Financing arrangements that use pledged assets to secure borrowing or trading obligations.