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Marshall Islands
March 7 , 2018
2327 days
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- The Marshall Islands, a Pacific island nation has become the first country in the world to recognise a crypto currency or digital currency as its legal tender after passing a law through its parliament to create the digital currency "Sovereign," or SOV.
- The Marshall Islands is partnering with Israeli fintech start up Neema to launch its SOV.
- The island country will issue 24 million SOVs in Initial Currency Offering (ICO).
- The digital currency in the island nation will have an equal status with the US dollar as a form of payment. The US dollar is the Pacific island nation's current currency.
- Earlier, Venezuela became the first country to launch its own crypto-currency ‘Petro’ but its validity as legal tender is not yet known.
- The Republic of Marshall Islands is an island country located in the Pacific Ocean. The country is part of the larger island group of Micronesia.
- The U.S. runs a military base on Kwajalein Atoll.
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