Bank of Guam Integrates Marshall Islands' USDM1 Sovereign Bond, 1:1 Backed by U.S. Treasuries

According to Foresight News, Bank of Guam, an FDIC-insured institution, recently began supporting USDM1 deposits and withdrawals while integrating with the Lomalo digital wallet. USDM1 is a blockchain-based sovereign debt instrument issued by the Marshall Islands government, backed 1:1 by short-term U.S. Treasuries held in bankruptcy-remote custody by a U.S. trust company under New York law, and qualifies as a high-quality liquid asset (HQLA) under Basel standards. The integration enables Bank of Guam's customers to transfer funds between their Lomalo wallet and bank accounts. USDM1 currently serves as the distribution channel for the Marshall Islands' universal basic income program.

M1X Global coordinates the initiative.