The Senate of the Northern Mariana Islands (a U.S. territory) has overridden the governor’s veto and advanced a bill to launch the MUSD stablecoin — now it’s up to the House of Representatives. If passed, Tinian would become the first U.S. region to issue its own government-backed #stablecoin .
➡️ Key details from the bill:
🟡 MUSD will be fully backed by U.S. dollars and government bonds
🟡 Issuance will be managed by the local treasury on the eCash #blockchain
🟡 It will also be used in newly launched online casinos to enable transparent, on-chain payments
➡️ Context:
🟡 The island’s economy relies heavily on tourism — local authorities are seeking digital tools for diversification
🟡 The bill is being pushed by local Republicans
🟡 With federal bills like STABLE and GENIUS stalled (partly due to criticism over Trump’s #crypto ties), regions are taking matters into their own hands
If the House approves, this could set a precedent: a municipal stablecoin launched ahead of federal regulation. As tokenization and Web3 payments gain momentum, Tinian’s case could have broad implications for the entire industry.
