The DCMA is also a monetary authority. “UMU is our monetary asset, and we back it,” said Darrell Hubbard, the Executive Director of the DCMA, and the chief architect of UMU, in an interview with BeInCrypto. “Meaning, you can always redeem the value from us for the value paid to us. That’s the role of a monetary authority.”

However, UMU will not be a legal tender for negotiating domestic prices or international trade agreements. Instead, it will function as a store of value, mitigate currency devaluation, and be used as a method of payment.

For the UMU to take off, it will need buy-in from the financial system and central banks. Something that it doesn’t have yet. On the retail side, UMU will have to compete with the likes of Ripple and stablecoins. Both of these enable international transactions to happen at a fraction of the speed of many bank transfers.