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(PRESS RELEASE) The Municipality of Tinian and Aguiguan, CNMI – May 19, 2025 – The small, remote Pacific
island of Tinian, in the U.S. Commonwealth of the Northern Mariana Islands (CNMI), has officially
issued and minted the first fully-reserved, fiat backed stable token issued by a public entity in
the United States. The issuance of the token, designated as MUSD, marks a historic milestone for
U.S. states, territories, and commonwealths and a pivotal moment in the evolution of money.
The Marianas US Dollar (MUSD) is exclusively issued as a Simple Ledger Protocol (SLP)
token on the eCash (XEC) network, the most widely adopted Bitcoin token standard. This open-
source protocol ensures that MUSD transactions inherit the robust security and technical
capabilities of Bitcoin. Maintained by premiere development team Bitcoin ABC, the eCash
blockchain offers ultra-low transaction fees and state-of-the-art security, while preserving an
unbroken lineage from the original Bitcoin codebase established by Satoshi Nakamoto.
This remarkable achievement by an island of only 2,000 residents underscores Tinian’s strategic
value and unique role within the United States, both historically and today. Developed in direct
response to Executive Order 14178, “Strengthening American Leadership in Digital Financial
Technology,” issued by President Donald Trump, MUSD aims to foster a sustainable digital
economy that eliminates dependency tourism and immigration.
To symbolize security and transparency, the first $100 U.S. dollar bill backing MUSD was
ceremonially enshrined at the Tinian Treasury.
“President Trump emphasized the pivotal role of digital assets in economic development, and we
acted swiftly to lead the nation with the launch of a dollar-backed stable token,” said Senator Karl
King-Nabors. “Tinian is uniquely positioned to emerge as an international leader in blockchain
innovation. Here, the sun rises first on America’s digital financial future.”
The introduction of MUSD is strategically timed with the launch of Google’s $1 billion Pacific
Connect initiative, which establishes new undersea fiber-optic connections between the continental
U.S. and Japan, positioning Tinian as a critical node in global internet infrastructure. Additionally,
Tinian’s Economic Incentive District, a U.S.-protected free trade zone offers unparalleled tax
benefits, expedited permitting processes, and substantial tax rebates, making it an attractive
domicile for digital enterprises and startups.“The pandemic that began in 2020 has had a profound impact
on our primary industry, tourism. We have used the tourism downturn that followed the pandemic as an opportunity
to shift our focus to developing sustainable, digital revenue streams independent of local markets,” stated Senator Karl
King-Nabors. “Launching MUSD represents just the beginning of our broader vision to create
lasting economic opportunities for our community, particularly for our youth and future
generations.”
The global market capitalization for stable tokens exceeds $231 billion, with nearly $200 billion in
U.S. dollar-backed variants similar to MUSD. Capturing even 1% of this market could translate
into billions of dollars in reserves managed by Tinian’s Municipal Treasurer. The MUSD
ecosystem incorporates cutting-edge features such as integrated on/off ramps, credit card
processing, and direct peer-to-peer payments with free “postage” and no “gas” or fees.
The Municipality of Tinian and Aguiguan has chosen CNMI-based Marianas Rai Corp. as the
exclusive provider of software and services for the issuance and redemption of MUSD, including
the growth of the MUSD technology and business development ecosystem.
“MUSD truly represents a paradigm shift not just in the governance of the issuer, it represents a
level-up in stable token technology,” said Vin Armani, CTO of Marianas Rai Corp. “By leveraging
a cutting edge open source and public Bitcoin network with near-zero transaction fees, MUSD
tokens enable digital US dollar commerce not only in every existing industry, but also in currently
unaddressed industries such as content delivery and gaming, that require instant microtransactions
with values of a fraction of a cent.”
As the U.S. under President Trump’s leadership seeks to harness digital assets for innovation and
economic growth, Tinian has emerged as a trailblazer. The MUSD stable token (learn more at
dollar.mp) stands as the first U.S. government-issued stablecoin, supported by a robust digital
infrastructure and one of the world’s most favorable tax environments.
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