7D price · CoinGecko market data.
| Exchange | Pair | 24h Volume | Spread | Trust |
|---|
| Uniswap V3 (Ethereum) | USDM1/0XA0B8…6EB48 | $17.63 | 0.61% | TRADE |
Top 1 exchanges by 24h trading volume. Block Insider earns affiliate commission from some exchanges listed here. Placement does not affect editorial.
USDM1 is a USD-denominated, sovereign bond issued onchain by the Republic of the Marshall Islands, a sovereign nation operating on the U.S. dollar standard. Each unit is issued at par and fully collateralized 1:1 by short-dated U.S. Treasuries held on a segregated basis with a U.S.
trust company. USDM1 represents a direct sovereign obligation, issued under New York law with explicit waivers of sovereign immunity, providing legal enforceability consistent with traditional sovereign debt instruments. While it functions operationally similar to a stablecoin, supporting on-chain transfer, transparency, and settlement efficiency, USDM1 is not a private corporate stablecoin, CBDC, wrapped asset, or synthetic dollar representation.
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