Huobi has said that it will be launching the world’s first national token called Dominica Coin (DMC) — endorsed by the Commonwealth of Dominica.

Huobi said it will launch the world's first national token DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica. Huobi will provide Dominica DID status to every registered user. https://t.co/XwvdQJs2u0

— Wu Blockchain (@WuBlockchain) November 29, 2022

As the world’s first national token, DMC will be issued on the Tron blockchain (TRC20) initially, then later expanded to both Ethereum (ERC20)and Binance Smart Chain (BEP20).

Huobi state in the announcement that DMC token will be issued for sale through Huobi Prime and that all registered users will be provided with Dominica DID status.

“A Dominica DID-verified account enjoys the same rights and interests as an account verified via any other nationality on the premise of compliance with laws and regulations.”

Furthermore, Huobi state that the DMC token will allow holders the opportunity to obtain passports issued by the Government of Dominica, enabling holders access to over 130 countries without a visa.

The DMC token “is granted a statutory status as an authorized crypto in the Commonwealth of Dominica and can be circulated locally in Dominica as a means of payment.”

Huobi said that future plans include a Dominica Metaverse, using the DMC token as a native token and that holders “will enjoy a variety of privileges in the Metaverse.”

The post Huobi announces launch of world’s first national token, DMC appeared first on CryptoSlate.

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