- eUSD would be the first stablecoin issued by a completely regulated US financial institution.
- Every eUSD token is backed 1:1 by {dollars} and short-term treasury property.
- Stablecoins will likely be launched on Ethereum and Polygon for quick on-chain funds.
Telcoin Digital Asset Financial institution launched eUSD, describing it as the primary stablecoin in america issued by a completely chartered financial institution. Digital Greenback started operations on December 26, a couple of weeks after the corporate obtained approval beneath Nebraska’s Digital Asset Custodian Framework.
The stablecoin will likely be issued on Ethereum and Polygon, with an preliminary provide of $10 million. Telcoin stated eUSD is totally backed on a 1:1 foundation by US greenback deposits and short-term Treasury property.
The corporate says eUSD is designed to attach regulated banking and on-chain finance. Balances held in Telcoin Digital Asset Financial institution accounts will likely be linked on to eUSD tokens, permitting customers to maneuver funds between conventional accounts and blockchain networks.
CEO Paul Neuner stated the launch is step one towards providing what he calls a “blockchain-native checking account.” The financial institution plans to start onboarding U.S. prospects in early 2026.
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Telcoin stated eUSD can be utilized for direct peer-to-peer funds with out counting on conventional cost processors. The financial institution positions stablecoins because the digital equal of money, permitting customers and companies to immediately ship and obtain funds on supported blockchains.
The financial institution stated that as a result of the system is constructed round good contracts, eUSD also can assist programmable monetary companies that settle in real-time inside a regulated atmosphere.
Variations between eUSD and present stablecoins
Many of the main stablecoins in circulation, similar to USDC and USDT, are issued by non-public corporations moderately than banks. These issuers publish reserve studies however usually are not regulated as depository establishments.
Telcoin stated eUSD is exclusive as a result of it’s issued by a US-chartered financial institution, its reserves are saved instantly on banks’ stability sheets, and it’s ruled by a authorized framework created particularly for stablecoin funds.
The corporate claims this construction reduces reliance on third-party custodians and reduces counterparty danger.
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