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USDM1

USDM1

Live
Tokenized Assets71

Sovereign USD-denominated digital bond backed by U.S. Treasuries on Canton

Upvotes

325

Views

2,137

Score

71

Rank Score

#221

Rank Upvote

#454

Rewards

7.72M CC

as of 22 Jun 2026 · ~$796.1K at today's price

Nodes

1

Rank Rewards

#77

as of 22 Jun 2026

Algorithm Analysis: USDM1

71/100
Activity73/100
Maturity76/100
Community73/100
Transparency76/100
Documentation58/100

USDM1 presents a strong offering as a tokenized asset backed by U.S. sovereign bonds, which enhances its credibility and regulatory compliance. While the project is live and has institutional backing, the lack of comprehensive documentation and community engagement signals areas for improvement. Overall, its focus on institutional settlement and yield-bearing features positions it well within the Canton Network ecosystem.

Last analyzed: Apr 14, 2026

OverviewFeaturesTeamOn-chainFAQConnectedNewsRelated

USDM1 on Canton

First sovereign USD digital bond on Canton. Issued by Republic of Marshall Islands under NY law. Backed 1:1 by short-dated US T-Bills. Used in Canton IWG Treasury financing demos.

About USDM1

USDM1 is the first sovereign, USD-denominated digital bond issued natively on-chain, backed by short-dated U.S. Treasuries. Issued by the Republic of the Marshall Islands under New York law. Listed in the Canton Network ecosystem as a Builder for tokenized sovereign debt.

Features

What the product does

Sovereign Bond Backing

Fully collateralized by U.S. sovereign bonds, providing transparent and secure backing for the digital dollar token.

Yield-Bearing

Holders can earn yield from the underlying sovereign bond portfolio, making it productive capital.

Institutional Settlement

Designed for institutional use cases including treasury management, settlement, and cash management.

USDM1 Team

ML

Mark Lurie

CEO (M1X Global). Custodiante: Anchorage. Trustee: Surus.

USDM1 On-chain

Validator nodes + featured apps linked to this project
Lifetime totals as of 22 Jun 2026 (round 101,404)

1 Validator
M1-valid…3a6637
4.65M CC~$480.3K at today's price
1 Featured App
M1-valid…3a6637
3.06M CC~$315.8K at today's price
Total rewards
7.72M CC
~$796.1K at today's price

USDM1 FAQ

USDM1 is a digital USD token backed by U.S. sovereign bonds, providing yield-bearing dollar exposure for institutional settlement.
USDM1 is backed specifically by sovereign bonds rather than bank deposits or commercial paper, and it passes through yield to holders.
USDM1 operates on Canton Network for institutional settlement, treasury management, and on-chain cash management.

Connected Projects

USDM1 is the first sovereign, USD-denominated digital bond issued natively on-chain. A dual-recourse instrument representing USD-denominated sovereign debt of the Republic of the Marshall Islands, fully collateralized 1:1 by short-dated U.S. Treasury instruments held in bankruptcy-remote U.S. trust custody. Structured in the style of a fully collateralized Brady bond under New York law. Through Canton Network, USDM1 delivers Treasury pass-through yield and enables 24/7 on-chain financing, repo, settlement, and collateral reuse within ISDA, GMRA and GMSLA frameworks. Used in Canton Industry Working Group demonstrations of tokenized U.S. Treasury financing alongside SBC. Also distributed via Stellar to fund Marshall Islands ENRA Universal Basic Income program.