Marshall Islands will launch its own cryptocurrency
The nation could launch its own digital currency later this year
Behind the development of the cryptoactive is the company Sovereign (SOV) which revealed that it is a significant progress in the search for partners, investors and developers to be able to materialize the plan.
The island intend to develop an ecosystem that attracts banks, exchanges and new companies to operate physically and virtually and grow a new industry with a friendly regulatory framework.
Sovereign says: “At the beginning of 2018 we moved to the Marshall Islands to start the project and help develop the Sovereign Currency Law of 2018, which officially declares the SOV as legal tender for the Republic of the Marshall Islands.”
Undoubtedly, the announcement represents a big step in the way of establishing digital currency in the territory.
Last year, Hilda Heine, president of the Marshall Islands, faced a ban motion from which she managed to escape unscathed. The reason was to publicize their plans to incorporate a national cryptocurrency as a measure to improve the country’s financial situation.
L.Sáenz
Source: Coincrispy
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