The final charter authorisation positions Telcoin to issue a bank-regulated on-chain US dollar stablecoin.
Telcoin has received final charter approval from the Nebraska Department of Banking and Finance to launch Telcoin Digital Asset Bank, marking the creation of the first regulated Digital Asset Depository Institution in the United States. The charter enables Telcoin to operate as a fully regulated blockchain-native bank, directly connecting US bank accounts to compliant, on-chain ‘Digital Cash’ stablecoins.
Central to this model is eUSD, which will become the first US bank-issued dollar stablecoin. Fully backed by US dollar deposits and short-term Treasuries held in regulated reserves, eUSD is designed to bring programmable, interoperable money into everyday financial activity. Unlike offshore or non-bank alternatives, eUSD offers consumers and institutions a supervised, transparent digital asset that integrates seamlessly across traditional and blockchain payment rails.
“Our charter makes history, and not just for Telcoin, but for the entire US banking system,” said Paul Neuner, Telcoin’s Founder and CEO. “We’re proving that a bank can issue on-chain Digital Cash responsibly and operate in full alignment with US regulators. eUSD brings the speed, transparency, and affordability of blockchain into everyday finance in a way that anyone can use.”
The approval comes as the GENIUS Act introduces long-awaited federal guidance on stablecoins, providing clarity on risk management and oversight. Telcoin’s model is positioned as a regulated alternative to non-depository trust structures, aiming to address systemic concerns highlighted by federal agencies.
The bank will offer a suite of retail and commercial services, including compliant stablecoin yield products, subject to regulatory approval. It also plans to support the wider US banking sector.
“There are almost 5,000 banks in the U.S., and only the largest five percent of them will be able to do digital assets in-house,” said Patrick Gerhart, President of Banking Operations at Telcoin. “We look forward to helping the other 95 percent of U.S. banks stay relevant and connect to blockchain-based finance in a safe and sound manner.”
Telcoin aims to bridge the multi-trillion-dollar blockchain economy with traditional finance, supporting modern payments, small-business liquidity, and community bank resilience.
The charter was signed at the Nebraska State Capitol, advancing the framework established under the Nebraska Financial Innovation Act, which has positioned the state as a national leader in blockchain-enabled banking reform.
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