Onchain Marketcap$173,690
Active Marketcap$173,388
DeFi Active TVL$3,746
USDM1 Price$1.01
Chains4
Token Properties
CategoryRWA Stablecoins
Asset ClassYield RWA Stable
TypeAsset
RWA ClassificationRWA
Access ModelPermissionless
Parent PlatformUSDM1
Classification
RedeemableIndicates whether the token can be redeemed for underlying assets
KYC to Mint or RedeemIndicates whether minting or redeeming the token through the issuer or primary market requires KYC/AML verification (KYC/KYB/onboarding)
TransferableIndicates whether the token can be transferred freely between on chain addresses
Self CustodyIndicates whether the token can be held in a user controlled wallet
AttestationsIndicates whether the issuer provides periodic attestations or assurance reports regarding reserves or backing
Issuer Information
IssuerRepublic of the Marshall Islands
ISINN/A
Registry InformationUSDM1 is issued by the Republic of the Marshall Islands, a sovereign UN member state. Reviewed public materials describe a capital-markets agent stack in which Surus Trust Company LLC acts as trustee, custodian, and collateral agent; MI Financial Services DAO LLC (MIFS) acts as transfer agent, token agent, and paying agent under supervision of the RMI Banking Commission as a VASP; Inca Digital supports compliance and monitoring; Cleary Gottlieb acts as legal counsel; and Guidepost Solutions supports compliance, risk, and governance oversight. Official materials also state the issuance is documented under an indenture and offering memorandum.
Sourcehttps://usdm1.com/
Attestations
Date of Last AttestationDecember 2025
Attestation FrequencyMonthly
View AttestationsThird-party verification reportsNotes
- USDM1 is a digital, fully collateralized, USD-denominated sovereign bond issued natively onchain by the Republic of the Marshall Islands. Each unit represents 1 Marshall Islands bond backed by short-dated U.S. Treasuries, with 100% collateralization maintained through a U.S. trust structure. Interest is paid in additional USDM1, accrues continuously, and capitalizes monthly. Holders can redeem principal plus the past month’s pro-rated accrued interest at par. Secondary transfers are permissionless, while direct minting and redemption require registered-bondholder onboarding and KYC/KYB review by MIFS. Official docs also state that Surus publishes monthly reserve statements and that collateral is limited by policy to very short-duration U.S. Treasuries, with a current maximum maturity of 30 days.
DeFi Active TVL by Protocol
Protocol | ||
|---|---|---|
| $3,746 | 100.00% |