Paradigm leads M1X Global seed round as funding reaches $8.5M

Paradigm has led an oversubscribed seed funding round for sovereign financial infrastructure firm M1X Global, bringing the company’s total funding to $8.5 million just 14 weeks after its public launch.

According to a press release shared with crypto.news, the round also attracted participation from Breed VC following M1X Global’s earlier angel raise. The company said the funding comes as regulatory clarity and institutional interest continue driving adoption of blockchain-based financial infrastructure.

M1X builds blockchain infrastructure for sovereign markets

Working with governments on digital financial systems, M1X Global has concentrated on sovereign financial instruments issued on blockchain networks. Its flagship partnership with the Republic of the Marshall Islands led to the launch of USDM1, which the company described as the first U.S. dollar-denominated secured sovereign bond issued natively on a public blockchain.

M1X Global said it coordinated the issuance with Cleary Gottlieb, Stellar Development Foundation, Anchorage Digital Bank, Guidepost, Inca Digital and Crossmint. According to the company, USDM1 was created to expand access to government aid and financial services across the Pacific while introducing a blockchain-native sovereign instrument for institutional markets.

The company said USDM1 combines the legal and economic structure of fully collateralized U.S. dollar sovereign debt with programmable digital asset features, enabling T+0 settlement, enforceable legal protections and programmable transfers. It added that the instrument qualifies as eligible sovereign collateral for regulated 24/7 markets and has already featured in institutional working groups involving Bank of America, Citadel Securities, Virtu Financial, Tradeweb, and DTCC.

According to M1X Global, the bond has also been structured to remain bankruptcy remote while supporting look-through to high-quality liquid assets and inclusion in legal netting sets used for collateral.

“Paradigm’s investment is an important milestone for M1X Global, strengthening our ability to scale the infrastructure behind sovereign financial instruments and to accelerate the build-out of systems that can support their use across regulated markets. This support advances our capacity as we continue to see strong onboarding demand and institutional adoption of USDM1, “ M1X Global Chief Executive Officer Mark Lurie said in an accompanying statement.

Jordan Goldman, president and chief operating officer of M1X Global, added that institutional deployment of USDM1 has demonstrated how sovereign digital assets can support both public services and financial markets. 

According to Goldman, the assets can “deliver meaningful impacts in both domestic and institutional contexts” by improving access to government services while providing new sources of high-quality collateral for institutions operating in around-the-clock markets.

The investment continues Paradigm’s recent expansion beyond traditional crypto venture funding. 

In June, the firm led a $9 million Series A round for Latin American payments platform El Dorado, supporting its stablecoin-powered cross-border payment network operating across 12 countries. It has also partnered with Stripe on the Tempo Layer 1 blockchain and participated in U.S. stablecoin policy discussions, including urging regulators not to restrict third-party stablecoin reward programs.