Northern Mariana Islands Approves Government-Backed Stablecoin MUSD – Coincu

On May 16, 2025, the Northern Mariana Islands legislature overrode the governor’s veto, approving the issuance of the MUSD stablecoin in Tinian.

This development highlights the growing role of stablecoins and economic strategies in U.S. localities, spotlighting potential market trends.

Northern Mariana Islands Greenlights MUSD Stablecoin

The Northern Mariana Islands’ decision to authorize the issuance of the MUSD stablecoin stands as a noteworthy legislative action. Lawmakers approved the bill despite initial veto concerns from the governor over constitutional issues. The exclusive issuance on the eCash blockchain aligns with a broader economic plan.

Economic implications include local government licensing of internet casinos, intended to invigorate Tinian’s tourism-driven economy. If MUSD launches as planned, it could serve as a financial model for similar initiatives.

“The potential for billions in private investment and tax receipts” – Vin Armani, Co-founder, Marianas Rai Corporation

Historic First for U.S. Government-Backed Digital Assets

Did you know? This initiative by the Northern Mariana Islands marks a historic first for government-backed stablecoins in the U.S., potentially influencing future national digital currency legislation.

The mStable USD currently holds a fully diluted market cap of $41.04 million, with no active trading volume reported, according to CoinMarketCap. Recent periods showed a stable price move, with the most notable 21.73% rise over 60 and 90 days.

The Coincu research team suggested that future expansions in regional stablecoin legislation could spur innovative financial solutions nationwide, presenting fiscal and technological opportunities. The challenge of balancing regulatory compliance and pioneering financial solutions remains significant.