Woofun AI reports that crypto venture capital firm Paradigm led the seed round investment in sovereign debt tokenization platform M1X Global. The funding supports the expansion of on-chain sovereign debt issuance and management capabilities. M1X Global's core product, USDM1, was launched in collaboration with the Government of the Marshall Islands. It is a USD-denominated sovereign debt instrument issued directly on the public chain, backed by a 1:1 US Treasury Bill, and provides investor protection under New York State law.

This round of financing will be mainly used to drive the institutional applications of USDM1, including compliance collateral in scenarios such as repurchase agreements, margin, and collateralized borrowing, and deepen integration with banks, custodians, and trading platforms. Prior to this, M1X Global had completed a $3 million oversubscribed angel round of financing in March 2026, with investors including Balaji Srinivasan.