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The Republic of the Marshall Islands completed the world's first on-chain universal basic income disbursement on December 16, 2025, using the Stellar blockchain, with payments distributed through USDM1, a U.S. dollar-denominated sovereign bond fully backed by short-term U.S. Treasury bills.

The Republic of the Marshall Islands completed the world's first on-chain universal basic income disbursement on December 16, 2025, using the Stellar blockchain, with payments distributed through USDM1, a U.S. dollar-denominated sovereign bond fully backed by short-term U.S. Treasury bills.

More than 33,000 resident Marshallese citizens have enrolled in the program known as ENRA, which provides approximately $200 quarterly to each resident citizen, amounting to $800 per year, with recipients able to choose payment via digital wallet, bank deposit or physical check.

More than 33,000 resident Marshallese citizens have enrolled in the program known as ENRA, which provides approximately $200 quarterly to each resident citizen, amounting to $800 per year, with recipients able to choose payment via digital wallet, bank deposit or physical check.

The program replaces quarterly physical cash deliveries with instant digital transfers across 24 widely dispersed atolls, addressing logistical challenges where traditional banking access faces geographic barriers and cash deliveries involved long delays and high costs.

The program replaces quarterly physical cash deliveries with instant digital transfers across 24 widely dispersed atolls, addressing logistical challenges where traditional banking access faces geographic barriers and cash deliveries involved long delays and high costs.

USDM1 operates under New York law using a Brady-bond structure with U.S. Treasury collateral held by an independent trustee, with the Finance Ministry stating it preserves the nation's sovereignty and does not function as a new currency but as a secure fiscal instrument.

USDM1 operates under New York law using a Brady-bond structure with U.S. Treasury collateral held by an independent trustee, with the Finance Ministry stating it preserves the nation's sovereignty and does not function as a new currency but as a secure fiscal instrument.

The Marshall Islands operates under the Compact of Free Association with the United States through 2043, receiving around $67 million annually in development assistance, with the U.S. also paying into a trust fund valued at $1.042 billion as of the 2024-25 fiscal year.

The Marshall Islands operates under the Compact of Free Association with the United States through 2043, receiving around $67 million annually in development assistance, with the U.S. also paying into a trust fund valued at $1.042 billion as of the 2024-25 fiscal year.

The International Monetary Fund warned that the initiative, expected to cost around 8.1% of GDP once fully implemented, could crowd out other critical spending and undermine fiscal sustainability, though the government maintains the payments will not compel citizens to quit their jobs.

The International Monetary Fund warned that the initiative, expected to cost around 8.1% of GDP once fully implemented, could crowd out other critical spending and undermine fiscal sustainability, though the government maintains the payments will not compel citizens to quit their jobs.

Marshall Islands Launches World's First Blockchain UBI

Marshall Islands Launches World's First Blockchain UBI

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Marshall Islands Launches World's First Blockchain UBI

Marshall Islands Launches World's First Blockchain UBI

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