Crypto startup M1X Global completes $5.5 million seed funding round, led by Paradigm

TechFlow news, July 7: According to The Block, M1X Global has completed a $5.5 million seed round, led by Paradigm with participation from Breed VC. The company previously assisted the Marshall Islands in issuing the tokenized sovereign debt instrument USDM1, an asset backed 1:1 by U.S. Treasury bonds, which has been deployed on the Stellar, Canton, and Solana networks.

M1X Global stated that it will subsequently focus on promoting the use of USDM1 as collateral in regulated financial markets, expanding its application in institutional scenarios such as repos, margin, and secured financing.