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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.

USDM1

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USDM1	USD
0.1	0.10432302007
1	1.04
2	2.09
5	5.22
10	10.43
20	20.86
50	52.16
100	104.32
1000	1,043.23

USD	USDM1
0.1	0.09585612066
1	0.95856120663
2	1.92
5	4.79
10	9.59
20	19.17
50	47.93
100	95.86
1000	958.56

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