Stablecoin created in Tinian amid online gambling legalization

Sam Bentham

20 May 2025 at 7:40am UTC-4

Source: Shutterstock

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The island of Tinian, in the US territory of the Commonwealth of the Northern Mariana Islands, has created its own stablecoin after the island legalized online gambling.

On Thursday the House of Representatives voted 14-2 in favor of overriding the veto of Northern Mariana Islands Governor Arnold I. Palacios, easily surpassing the required two-thirds majority. They were followed by their colleagues in the Senate, who voted 7-1 to override.

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Gov. Palacios had vetoed Senate Local Bill 24-1, which proposed the legalization of online gaming on Tinian and the creation of its new cryptocurrency for the island. His argument was that the Commonwealth’s legislature, the Tinian and Aguiguan Legislative Delegation, did not have the authority to regulate on these issues.

House Floor Leader Marissa Flores, one of two representatives to oppose the override, said that she was concerned that financial difficulties had pushed lawmakers into making a decision, saying, “Let us try to be lawmakers who will be remembered not for the speed of our actions but for the wisdom, foresight and enduring impact of our policies.”

In contrast, Rep. Patrick San Nicolas, a proponent of the bill, argued that the creation of a stablecoin would actually help bring financial integrity and transparency to the island’s upcoming online gaming sector while also combating the economic crisis the island is facing.

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