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M1X Global, a crypto startup focused on sovereign financial infrastructure, has completed a $5.5 million seed funding round led by Paradigm with participation from Breed VC, bringing the company's total funding to $8.5 million. M1X Global previously assisted the Marshall Islands in issuing a tokenized sovereign debt instrument, USDM1, which is backed 1:1 by U.S. Treasuries and has been deployed on the Stellar, Canton, and Solana networks. The company stated that it will use this round of funding to promote the use of USDM1 as collateral in regulated financial markets, focusing on expanding into banks, custodians, over-the-counter trading desks, exchanges, and other institutional market infrastructure. (The Block)