TechFlow, Nov. 13 — According to Business Wire, Telcoin announced it has received final charter approval from the Nebraska Department of Banking and Finance to establish Telcoin Digital Asset Bank, the first digital asset depository institution in the United States.
Its flagship product, eUSD, will become the first blockchain-based dollar stablecoin issued by a U.S. bank, offering consumers and businesses secure, compliant digital cash payments, remittances, and savings services. Unlike unregulated offshore or non-bank stablecoins, eUSD is fully backed by regulated reserves consisting of U.S. dollar deposits and short-term U.S. Treasury securities.
"Our charter makes history—not just for Telcoin, but for the entire U.S. banking system," said Telcoin founder and CEO Paul Neuner. The bank also plans to support community banks across the U.S., helping nearly 95% of the country's nearly 5,000 banks that currently lack the capacity to independently conduct digital asset operations to securely access blockchain finance.
