- eUSD turns into the primary stablecoin issued by a completely regulated U.S. financial institution.
- Every eUSD token is backed one-to-one by {dollars} and short-term Treasury belongings.
- The stablecoin launches on Ethereum and Polygon for quick on-chain funds.
Telcoin Digital Asset Financial institution has launched eUSD, describing it as the primary stablecoin in the US issued by a completely chartered financial institution. The digital greenback went dwell on December 26, weeks after the agency acquired approval below Nebraska’s Digital Asset Depository Establishment framework.
The stablecoin has been issued on Ethereum and Polygon, with an preliminary provide of $10 million. Telcoin stated eUSD is totally backed on a one-to-one foundation by U.S. greenback deposits and short-term Treasury belongings.
In accordance with the corporate, eUSD is designed to attach regulated banking with on-chain finance. Balances held in Telcoin Digital Asset Financial institution accounts will hyperlink on to eUSD tokens, permitting customers to maneuver funds between conventional accounts and blockchain networks.
Chief government Paul Neuner stated the launch marks step one towards providing what he known as “blockchain-native financial institution accounts.” 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 the stablecoin as a digital equal of money, permitting shoppers and companies to ship and obtain funds immediately on supported blockchains.
As a result of the system is constructed round good contracts, the financial institution stated eUSD also can assist programmable monetary companies that settle in actual time whereas remaining inside a regulated atmosphere.
How eUSD Differs From Present Stablecoins
Most main stablecoins in circulation, such as USDC and USDT, are issued by personal firms reasonably than banks. Whereas these issuers launch reserve stories, they aren’t regulated as deposit-taking establishments.
Telcoin stated eUSD stands aside as a result of it’s issued by a U.S.-chartered financial institution, with reserves held immediately on the financial institution’s stability sheet and ruled by a authorized framework created particularly for cost stablecoins.
The corporate argues this construction reduces reliance on third-party custodians and lowers counterparty danger.
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