Marshall Islands launches world's first UBI via Stellar-based digital bond

The Republic of the Marshall Islands (RMI) has paid out the world's first universal basic income (UBI) using its digital sovereign bond, USDM1, on the Stellar blockchain, CoinDesk reported. The USDM1 is collateralized on a one-to-one basis with short-term U.S. Treasury bonds. The RMI collaborated on the project with the Stellar Development Foundation (SDF) and infrastructure provider Crossmint.