Marshall Islands Pioneers World's First Crypto-Based Universal Basic Income

The Republic of the Marshall Islands (RMI) has announced the implementation of the world's first Universal Basic Income (UBI) scheme delivered primarily via blockchain technology. This historic move leverages a sovereign stablecoin and digital wallet infrastructure to address financial inclusion challenges common to the Pacific region.

Operational Structure

As reported by Radio New Zealand, the program aims to give every citizen an unconditional annual payment of USD $800, capitalized by the RMI's Compact Trust Fund. While traditional payment methods remain, the primary innovation is the option to receive funds in USDM1, a stablecoin pegged to US Treasury bonds. To facilitate distribution, the government launched "Lomalo," a digital wallet designed to bypass traditional banking requirements and ensure financial access for citizens in remote outer islands.