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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	0.10126054416
1	1.01
2	2.03
5	5.06
10	10.13
20	20.25
50	50.63
100	101.26
1000	1,012.61

USD	USDM1
0.1	0.09875514775
1	0.98755147752
2	1.98
5	4.94
10	9.88
20	19.75
50	49.38
100	98.76
1000	987.55

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