The announcement states that the physical representations of the digital currency is to ensure that citizens have “fair and equal access to their digital currency, whether or not they have internet connection.”
“Tangem will help us ensure all citizens, including those living on more remote outer islands, are able to easily and practically transact using SOV.”
The Republic of the Marshall Islands first announced that it would release its own cryptocurrency complete with an Initial Coin Offering (ICO) and free trading in February 2018. At the time Two government officials said that once issued, the Sovereign will circulate alongside the nation’s other official currency, the United States dollar.
The pushed the Marshallese President Hilda Heine to a vote of no confidence in the country’s parliament, the Nitijela. The parliament had initially backed the creation of a national digital currency, however, the critics of the president declared that the proposed plan for a state-backed digital currency could harm the country’s reputation
Read more: Iran Is Planning To Introduce A State-backed Cryptocurrency
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