Marshall Islands Offers Pre-Sale for Sovereign (SOV) Digital Coin By Cryptovest

Marshall Islands Offers Pre-Sale for Sovereign (SOV) Digital Coin

The Marshall Islands has chosen a delayed scheme to launch its Sovereign (SOV) digital coin, which will be considered legal tender and work as a national currency within the borders of the small nation. David Paul, Environment Minister and Minister-in-Assistance to the President of the Republic of the Marshall Islands, announced the plan during the Invest: Asia conference.

The SOV will be issued in stages, in the format of Timed Release Monetary Issuance (TRMI). A pre-sale will begin, distributing a token that will be a placeholder for actual SOV once the coin receives its own mainnet. The issuance of the SOV has taken months to complete, and may not arrive any time soon, despite being announced a year ago.

The SOV may not be counted as legal tender in other countries. However, Paul, who is a proponent of blockchain technolo…

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