America’s First Bank-Issued Stablecoin Goes Live as Telcoin Launches eUSD

• eUSD becomes the first stablecoin issued by a fully regulated U.S. bank.
• Each eUSD token is backed one-to-one by dollars and short-term Treasury assets.
• The stablecoin launches on Ethereum and Polygon for fast on-chain payments.

Telcoin Digital Asset Bank has launched eUSD, describing it as the first stablecoin in the United States issued by a fully chartered bank. The digital dollar went live on December 26, weeks after the firm received approval under Nebraska’s Digital Asset Depository Institution framework.

The stablecoin has been issued on Ethereum and Polygon, with an initial supply of $10 million. Telcoin said eUSD is fully backed on a one-to-one basis by U.S. dollar deposits and short-term Treasury assets.

According to the company, eUSD is designed to connect regulated banking with on-chain finance. Balances held in Telcoin Digital Asset Bank accounts …

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