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HomeCryptocurrency NewsMarshall Islands abandoned the dollar in favor of the cryptocurrency

Marshall Islands abandoned the dollar in favor of the cryptocurrency


A country with a population of 53,000 people refuses to use the US currency and plans to issue digital money.
The State of the Marshall Islands, located in Oceania, abandoned its current official currency, the US Dollar. Instead, the country will issue its own cryptocurrency, reports The Verge.

The bill was signed on March 1, but the decision to replace the dollar became known only today. One way or another, the US currency will be accepted on the islands, however, it will lose its official status. As the experts note, the Marshall Islands – an independent state represented in the UN, therefore has the right to such a decision.

The cryptocurrency will be issued through the initial coin offering (ICO), its volume will be limited to 24 million tokens as a measure against inflation. The currency will be launched in the nearest future, exact dates are not announced.

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