The Stellar Development Foundation announced its facilitation of the world's first onchain universal basic income program in the Republic of the Marshall Islands, disbursing USDM1 (a sovereign digital bond) through the Lomalo wallet powered by Crossmint on Stellar.
The Stellar Development Foundation (SDF) has facilitated the Republic of the Marshall Islands' ENRA program, marking the world's first nationwide blockchain-powered universal basic income initiative. The SDF issued a multimillion-dollar grant for USDM1, the RMI's digitally issued and fully collateralized sovereign bond backed by U.S. Treasuries. Citizens access quarterly UBI disbursements instantly through Lomalo, a mobile wallet powered by Crossmint's infrastructure built on Stellar, replacing the previous system of periodic cash deliveries via transport vessels. The Stellar Disbursement Platform delivers eligible recipients' UBI directly into their Lomalo wallets, providing financial access to remote communities previously underserved by correspondent banking. This implementation demonstrates blockchain technology's real-world adoption for financial inclusion and modernizing infrastructure in emerging markets.
