Is the Mariana USD (MUSD) truly a United States government backed stable coin?

[Fidelia]

I just read somewhere that the first US government backed stable coin has been launched. And it's name is the Mariana USD. Can anyone confirm if this stable coin is truly backed by the US government in the real sense?

 

[Suba]

It appears that the Mariana USD (MUSD) stablecoin has not yet been launched and is not yet listed on Coinmarketcap, although MUSD is pegged 1:1 to the USD. On May 9, 2025 the Northern Mariana Islands senate overrode Governor Arnold Palacios' veto, even though MUSD is fully backed by the US government.

 

[riberet19]

I had never heard of that stablecoin, I would be careful and explore very well what it is about before putting a single dollar there.

 

[Kera]

It appears that the Mariana USD (MUSD) stablecoin has not yet been launched and is not yet listed on Coinmarketcap, although MUSD is pegged 1:1 to the USD. On May 9, 2025 the Northern Mariana Islands senate overrode Governor Arnold Palacios' veto, even though MUSD is fully backed by the US government.

Does not listing on Coin Market Cap indicate that a stable coin has not been launched? Just asking for clarification.

 

[Suba]

Does not listing on Coin Market Cap indicate that a stable coin has not been launched? Just asking for clarification.

That's right, until now Mariana USD (MUSD) has not been listed on Coinmarketcap, according to Binance MUSD will be launched today May 22, 2025,

 

[Fidelia]

I doubt that this Mariana USD would be able to compete with USDT in terms of usage except US institutions adopt it.