- Tinian overrides veto to issue first U.S. public stablecoin.
- Backed by U.S. Treasuries and issued by local treasury.
- Leveraging blockchain for economic diversification and revenue.
Tinian has overridden a governor’s veto to launch the Marianas US Dollar (MUSD), a stablecoin backed by U.S. Treasuries on the eCash network, starting July 2025.
Local lawmakers in Tinian moved forward with the MUSD stablecoin project, overturning Governor Palacios’ veto. The stablecoin is backed by U.S. cash and Treasuries, aiming at enhancing Tinian’s economic infrastructure.
Tinian’s stablecoin initiative marks a pioneering move for U.S. municipal-level blockchain adoption, attracting investor interest and potentially reshaping local economies.
Stakeholders and Implementation
Key stakeholders include the Tinian Municipal Treasury, tasked with issuing the MUSD stablecoin. Marianas Rai Corporation provides the blockchain framework, using the eCash network, a Bitcoin Cash ABC fork. “The plan is a non-disruptive way to bring investment,” said Clyde Norita, a local businessman at Marianas Rai Corporation.
The initiative seeks to revolutionize Tinian’s economy by attracting investment without disrupting existing systems. MUSD brings potential financial growth through increased blockchain integration and usage.
Financial and Regulatory Implications
Expected financial outcomes from MUSD include new revenue streams and tax receipts. Regulatory impacts remain under observation, with legal frameworks in place following legislative debate documented in the official bill and legislative summaries.
Tinian’s move is historical, as no other U.S. public entity has issued a stablecoin backed by government reserves. Industry experts see potential regulatory and technological shifts resulting from this initiative, foreseeing billions in private investment and tax receipts.
