MAJURO, Marshall Islands—The tiny Marshall Islands is creating its own digital currency in order to raise some hard cash to pay bills and boost the economy. Under the compact, the U.S. provides the Marshall Islands with about $70 million each year in assistance. The law states that the Marshall Islands will issue 24 million SOVs in what it calls an Initial Currency Offering. The Marshall Islands intends to initially sell 6 million SOVs to international investors. And many people in the Marshall Islands and beyond remain skeptical of cryptocurrencies.

Source: thestar March 03, 2018 14:15 UTC