Why did M1X Global raise US$5.5 million?

M1X Global (private) raised US$5.5 million in a seed funding round led by Paradigm to expand adoption of its tokenised sovereign debt platform. The company said the funding will support broader institutional use of USDM1 across regulated financial markets.

What is USDM1 and how does it work?

M1X Global (private) developed USDM1, a US dollar-denominated sovereign debt instrument issued with the Republic of the Marshall Islands. The token is backed one-for-one by short-duration US Treasury securities and is available on the Stellar, Canton and Solana blockchains.

Why is M1X Global focusing on institutional adoption of USDM1?

M1X Global (private) said its immediate priority is increasing institutional use of USDM1 as collateral in regulated financial markets. The company said it will consider working with additional governments as future opportunities arise.

Who participated in M1X Global's funding round?

M1X Global (private) raised the US$5.5 million seed round with Paradigm as the lead investor and Breed VC as the only other participant. The funding increased the company's total capital raised to US$8.5 million following a US$3 million angel round completed in March.

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M1X Global raises US$5.5M seed round

Q: How will M1X Global use the new funding?

M1X Global (private) said it will expand acceptance of USDM1 as collateral across banks, custodians, trading platforms, prime brokerages and exchanges. The company also plans to grow its workforce beyond its current team of 11 employees.

Written by Heidi Cuthbert Published Jul 7, 2026, 1:30 AM

M1X Global raised US$5.5 million in a seed funding round led by Paradigm to expand its tokenised sovereign debt platform.
The company plans to increase institutional use of its USDM1 token as collateral across regulated financial markets.
M1X said it will prioritise adoption of USDM1 while exploring future partnerships with additional governments.

M1X Global has raised US$5.5 million in an oversubscribed seed funding round led by Paradigm, with participation from Breed VC, to expand adoption of its tokenised sovereign debt platform.

The latest funding brings the company's total capital raised to US$8.5 million following a US$3 million angel round in March that included investors such as former Coinbase chief technology officer Balaji Srinivasan and Cumberland Labs chief executive Tama Churchouse.

“24/7 markets require collateral that can move 24/7,” said Paradigm Partner Arjun Balaji.

M1X said it will use the funding to expand institutional acceptance of USDM1 (CRYPTO:USDM1) as collateral across banks, custodians, trading platforms, prime brokerages and exchanges, while continuing to support regulated financial infrastructure.

The company said its current priority is institutional adoption of USDM1 rather than issuing additional sovereign debt products, and as M1X Global is privately held there is no share price available.

USDM1 is a US dollar-denominated sovereign debt instrument issued with the Republic of the Marshall Islands and backed one-for-one by short-duration US Treasury securities, with issuance currently available on the Stellar (CRYPTO:XLM), Canton and Solana (CRYPTO:SOL) blockchains.

M1X said USDM1 has already been evaluated in institutional working groups involving Bank of America, Citadel Securities, Virtu Financial, Tradeweb and DTCC, while the company plans to expand its 11-person team as it grows.

At the time of reporting, USDM1 price was $1.01.

M1X Global raises US$5.5M seed round

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