Marshall Islands Launches UBI Program With Digital Wallet
CoinMarketCap
The Marshall Islands has launched a Universal Basic Income (UBI) program using a government-issued stablecoin, USDM1, distributed through a digital wallet called Lomalo, offering multiple access methods including physical checks and direct deposit. The initiative aims to provide financial inclusion while allowing transfers between registered users, despite warnings from the International Monetary Fund about potential risks associated with the untested stablecoin infrastructure. Neighboring Pacific nations have also adopted similar blockchain-based financial systems.
All articles from 22 October 2026. Summaries are AI-generated and may contain errors; the linked article is the authority.