Marshall set up a special fund to support its national cryptocurrency

According to a press release on June 4, the Republic of the Marshall Islands (RMI) established a non-profit organization called the SOV Development Fund to support the government in the development and implementation of the national digital currency Sovereign (SOV) program. The fund will be completely independent and the board of directors will consist of seven directors, two of whom are appointed by the government and two by SFB Technologies. It is reported that SFB Technologies is developing the blockchain infrastructure of SOV.