Stablecon Salon: The First Sovereign Bond Issued On-Chain | Powered by Stellar, Surus & M1X
Stellar, Surus & M1X invite you to a special edition of Stablecon Salon during New York Fintech Week.
What happens when a sovereign nation chooses the blockchain over banks?
In March 2026, the Republic of the Marshall Islands became the first sovereign nation to issue a fully collateralized bond natively on public blockchain infrastructure. USDM1 is a USD-denominated sovereign debt instrument backed 1:1 by U.S. Treasuries and designed for institutional margin, repo, and financing workflows. USDM1 also serves as the distribution mechanism for a universal basic income paid to citizens of the Marshall Islands.
The three companies that built USDM1 are sitting down together for the first time. Stablecon presents an intimate conversation with the principals:
Patrick Murck | Founder & CEO, Surus
Mark Lurie | CEO & Co-Founder, M1X
The panel will be moderated by Justin Friedman, Head of Policy at Stablecon and host of the podcast, The Stable Pulse.
Our panel will explore the genesis of USDM1, how it was structured, why a licensed U.S. trust company was essential to the stack, the potential for institutional adoption and financial inclusion, and what this model unlocks for governments and capital markets participants.
We promise a spirited discussion about how this experiment could reshape access to capital and redefine trust in sovereign debt.
Space is extremely limited and registration is required.
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