Marshall Islands launches the first on-chain UBI program on the Stellar blockchain

The Republic of the Marshall Islands (RMI) has completed the world’s first on-chain Universal Basic Income (UBI) distribution program, using digitized USDM1 government bonds issued directly on the Stellar blockchain. This initiative is part of the national UBI program called ENRA, aimed at replacing periodic physical cash payments with direct digital transfers to residents living on remote, dispersed islands.

USDM1 is a USD-denominated bond fully backed by US Treasury bills and issued under the legal framework of New York State. The bonds are distributed through the Stellar Disbursement Platform into Lomalo digital wallets, developed by Crossmint, allowing beneficiaries to receive funds almost instantly. The Marshall Islands government emphasizes that ENRA is a fiscal allocation program, not a monetary initiative, and does not affect the country’s monetary sovereignty or technology.