Meet the ‘Sovereign’: Marshall Islands Government to Issue Crypto Token
The tiny Republic of the Marshall Islands plans to sell a cryptocurrency, known as the Sovereign, to supplement the U.S. dollar as its legal tender.
The Marshall Islands is moving ahead with a plan to issue a sovereign currency built on blockchain, writes Minister David Paul.
The Marshall Islands has set up a not-for-profit organization to oversee the Pacific nation's digital legal tender, the SOV.
Algorand was selected following "extensive market research among the leading protocol options."
Swiss crypto wallet maker Tangem says the Marshall Islands has selected it to produce physical "notes" for its planned national digital currency.
The IMF says the Republic of the Marshall Islands should reconsider introducing a cryptocurrency as a second legal tender over perceived risks.