{
  "id": 6347794,
  "title": "Nonco Adds USDM1 as Collateral, Bringing Sovereign Debt Into 24/7 Digital Markets",
  "url": "https://urgent.news/2026/09/08/nonco-adds-usdm1-as-collateral-bringing-sovereign-debt-into-24-7",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-08T23:44:32.000Z",
  "source": {
    "name": "Korea IT Times",
    "slug": "korea-it-times",
    "url": "https://www.koreaittimes.com/news/articleView.html?idxno=156914"
  },
  "original_language": "en",
  "account": null,
  "summary": "Nonco, an institutional digital asset firm, has announced that it will accept USDM1, a tokenized sovereign bond issued by the Republic of the Marshall Islands, as collateral from eligible counterparties. This move expands Nonco's collateral framework beyond payment stablecoins and tokenized money market fund shares, and tests whether digitally issued sovereign debt can function as productive collateral across institutional markets operating 24/7. USDM1 is a US dollar-denominated sovereign bond issued on-chain, secured by short-dated US Treasuries pledged to a US trust company under a bankruptcy-remote structure. It is governed by New York law and includes a customary waiver of sovereign immunity. M1X Global, which partnered with Nonco, noted that USDM1 has different legal and economic profiles compared to stablecoins and tokenized money market fund shares. The bond pays a sovereign coupon and has been structured for round-the-clock, same-day settlement, and is compatible with standard documentation used for derivatives, repurchase agreements, and securities lending. Nonco has recorded over $100 billion in bilateral over-the-counter trading volume and onboarded over 900 institutional counterparties.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}