- 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 probably 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 the US issued by a completely chartered financial institution. Digital Greenback started operations on December 26, just a few weeks after the corporate acquired approval beneath Nebraska’s Digital Asset Custodian Framework.
The stablecoin will probably be issued on Ethereum and Polygon, with an preliminary provide of $10 million. Telcoin mentioned 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 probably be linked on to eUSD tokens, permitting customers to maneuver funds between conventional accounts and blockchain networks.
CEO Paul Neuner mentioned the launch is step one towards providing what he calls a “blockchain-native checking account.” The financial institution plans to start onboarding U.S. clients in early 2026.
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Telcoin mentioned 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 mentioned that as a result of the system is constructed round good contracts, eUSD may assist programmable monetary companies that settle in real-time inside a regulated surroundings.
Variations between eUSD and current stablecoins
A lot of the main stablecoins in circulation, comparable to USDC and USDT, are issued by personal firms slightly than banks. These issuers publish reserve studies however will not be regulated as depository establishments.
Telcoin mentioned eUSD is exclusive as a result of it’s issued by a US-chartered financial institution, its reserves are saved immediately on banks’ steadiness 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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