Funding Round · Goldman Sachs · Coinbase · The Block
Paradigm leads $5.5 million seed round in M1X Global to expand tokenized sovereign debt platform
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
M1X Global, the crypto startup that worked with the Republic of the Marshall Islands to help it issue the tokenized sovereign debt instrument USDM1, has raised $5.5 million in a seed funding round led by Paradigm.
Key facts
- The seed round brings M1X Global's total funding to $8.5 million following a $3 million angel round that closed in March and included investors such as former Coinbase CTO Balaji Srinivasan
- 24/7 markets require collateral that can move 24/7," Balaji said
- He said that the structure allows the asset to be used across repo, margin, and secured financing markets while supporting 24/7 settlement
- M1X Global, the crypto startup that worked with the Republic of the Marshall Islands to help it issue the tokenized sovereign debt instrument USDM1, has raised $5.5 million in a seed funding round
Summary
Breed VC also participated in the round as the only other investor, M1X Global said Monday. "Several other firms were interested, but Paradigm and Breed were the right options for this allocation," Goldman said, noting that Paradigm preempted the fundraising process and took most the available allocation alongside Breed VC. No investors received board, advisory, or observer seats as part of the seed round, Goldman said. The seed round brings M1X Global's total funding to $8.5 million following a $3 million angel round that closed in March and included investors such as former Coinbase CTO Balaji Srinivasan and Cumberland Labs CEO Tama Churchouse.