Myanmar’s Democracy Activists Embrace Crypto

This summer, Myanmar’s government-in-exile, the National Unity Government (NUG), unveiled its own cryptocurrency called the Digital Myanmar Kyat (DMMK). The goal was simple: sidestep traditional banking systems controlled by the military junta, which has ruled Myanmar since last February 2021’s coup.


Learn how smart money is playing the crypto game. Subscribe to our premium newsletter – Crypto Investor.


The newly-launched cryptocurrency is pegged one-to-one with the Myanmar kyat, which has sharply lost its value due to political conflict. It runs on the open-source Stellar network, and has seen more than 50,000 transactions occur so far, resulting in $620,000 in crypto circulating.

This summer, Myanmar’s government-in-exile, the National Unity Government (NUG), unveiled its own cryptocurrency called the Digital Myanmar Kyat (DMMK). The goal was simple: sidestep traditional banking systems controlled by the military junta, which has ruled Myanmar since last February 2021’s coup.

Get Access to Our Exclusive Content

.

Leave a Comment