BitGo Bank & Trust has started providing qualified custody services for USDM1, marking the first onchain sovereign bond available for institutional custody.
USDM1 is fully backed by US Treasuries at a 1:1 ratio and issued natively onchain by the Marshall Islands Government.
The bond operates on the Go Network, which enables off-exchange settlement with same-day (T+0) finality across multiple blockchains including Stellar, Ethereum, and Solana.
The Marshall Islands government uses USDM1 proceeds to fund a 20-year Universal Basic Income program.
