Northern Mariana Islands Overrides Veto to Launch Government-Backed Stablecoin

The Northern Marianas Islands has overcome a veto to approve the launch of MUSD, a government-backed stablecoin designed to stimulate its economy and attract investment. This move marks the first instance of a U.S. jurisdiction issuing a stablecoin. The legislation aims to revitalize Tinian’s economy without relying on public spending.