Here’s Why Telcoin (TEL) is Trending Today

TEL, the native token of the decentralized finance platform Telcoin, has experienced a notable price increase following the final approval by the Nebraska Department of Banking and Finance. This latest development allows the platform to bring regulated stablecoins into traditional banking.

Following the approval announcement, TEL is trading at $0.005966, representing a gain of over 100% in the last 24 hours, according to data from CoinGecko. The asset’s trading volume of $ 34.49 million indicates strong investor interest and confidence in the altcoin.

TEL Defies Market Volatility With Strong Upward Momentum

Despite recent market volatility, the asset has defied the trend. It has shown notable performance in recent times. Over the past few days, TEL has increased by 84.9% and 59.6% in the last month. This move shows an impressive growth trajectory.

While the announcement has contributed to the massive spike, Telcoin also revealed that the platform has become the first actual blockchain bank to link banks from the United States to regulated stablecoins directly.

Meanwhile, the governor of Nebraska, Jim Pillen, has signed the nation’s first charter for digital asset banking at the state’s capitol in Lincoln. According to the governor, the project, led by Mike Flood, who previously served as Speaker of Nebraska and is now a U.S. Congressman, helped make it possible for the bank to obtain its official approval.

Interestingly, the state’s Department of Banking and Finance Director, Kelly Lammers, played a crucial role in the development, positioning Nebraska at the forefront of national blockchain banking innovation.

eUSD Bridges Traditional Banking With Blockchain Technology

The company’s primary product, eUSD, is a digital representation of the U.S. dollar, created by a bank. It allows people and businesses to safely and legally use stablecoins for sending, spending, and saving. What makes it special is that it’s the first bank-approved project that lets Americans use decentralized finance (DeFi) services directly.

Telcoin’s eUSD is tailored to move seamlessly across blockchain networks, protocols, and traditional financial rails. While this is not an unregulated, offshore, or non-bank stablecoin, eUSD is entirely supported by U.S. dollar deposits and short-term Treasuries, which are held in regulated reserves.

Commenting on the latest development, Telcoin’s Founder and CEO, Paul Neuner, said:

“For us, this is not about stablecoins pulling money out of the banking system, but rather upgrading the technology of money, payments, and banking itself. The bank’s native medium of transaction is a regulated, on-chain digital dollar directly connected to U.S. account numbers. More than just a stablecoin issuer, the bank plans to provide compliant stablecoin yield offerings along with a suite of retail and commercial depository services, subject to regulatory approval.”

Over 5.2B Mobile Users Drive Telcoin’s Global Reach

Neuner added that the company’s charter will make history for the entire U.S. banking system. He noted that the move demonstrates that a financial institution can fully align with U.S. regulators while issuing on-chain transactions responsibly.

Founded in 2017 by Paul Neuner and Claude Eguienta, Telcoin utilizes blockchain technology to offer low-cost financial products. It aims to integrate digital banking and telecommunications, in partnership with mobile network operators and mobile money platforms.

According to the platform, it has over 5.2 billion active subscribers globally who use mobile financial services in their everyday activities. This has influenced mobile money platforms, which now exceed 1.2 billion users, generating more than $2 billion in daily transaction volume.

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