In a historic move that could redefine the future of American finance, Telcoin has received final regulatory approval to launch the nation’s first regulated digital asset bank. The Nebraska Department of Banking and Finance granted Telcoin its charter on November 12, 2025, officially establishing Telcoin Digital Asset Bank as the United States’ inaugural Digital Asset Depository Institution. This landmark decision bridges the gap between traditional banking infrastructure and the rapidly evolving world of decentralized finance (DeFi).
The newly approved bank will debut with eUSD, the first on-chain U.S. dollar stablecoin issued directly by a regulated bank. Fully backed by U.S. dollar deposits and short-term Treasury securities held in compliant reserves, eUSD is designed to offer consumers and businesses a secure, transparent, and programmable form of digital cash. Unlike many existing stablecoins, which operate offshore or without direct banking oversight, eUSD aligns with rigorous regulatory standards while delivering the speed and efficiency of blockchain technology.
“This charter makes history—not just for Telcoin, but for the entire U.S. banking system,” said Paul Neuner, Founder and CEO of Telcoin. “We’re proving that a bank can issue on-chain Digital Cash responsibly and operate in full alignment with U.S. regulators.” Neuner emphasized that eUSD isn’t just another stablecoin; it’s a regulated digital medium of exchange directly linked to U.S. bank account numbers, enabling seamless integration with everyday financial activities like payments, remittances, and savings.
The timing of Telcoin’s approval is significant. It coincides with the recent passage of the GENIUS Act—a federal law that provides long-awaited clarity for stablecoin issuers and digital asset firms operating in the United States. While many blockchain companies have pursued non-depository trust charters, Telcoin’s approach directly addresses systemic risk concerns raised by federal regulators by embedding digital assets within a traditional banking framework.
Nebraska has positioned itself at the forefront of this financial evolution. Governor Jim Pillen signed the charter into effect at the Nebraska State Capitol in Lincoln, underscoring the state’s commitment to financial innovation. The foundation for this breakthrough was laid in 2021 with the Nebraska Financial Innovation Act, spearheaded by former state Speaker and current U.S. Congressman Mike Flood. The state’s proactive regulatory stance has now yielded the nation’s first digital asset bank charter, with officials like Banking Director Kelly Lammers playing key roles in shaping the legal framework.
Beyond serving individual users, Telcoin Digital Asset Bank aims to empower the broader banking ecosystem. Patrick Gerhart, President of Banking Operations at Telcoin, noted that while only the largest 5% of U.S. banks may have the resources to develop digital asset capabilities in-house, Telcoin seeks to help the remaining 95%—primarily community banks—stay competitive and compliant in the digital era. The bank plans to offer a suite of depository services and compliant yield-generating stablecoin products, subject to further regulatory approvals.
This development arrives alongside similar innovations from financial giants like JPMorgan, which recently launched its deposit token, JPMD, on the Base blockchain. However, Telcoin’s model stands out by being purpose-built as a bank from the ground up, rather than a legacy institution retrofitting blockchain tools.
As the $4 trillion global blockchain economy seeks deeper integration with traditional finance, Telcoin’s regulated banking model could set a new standard—one where compliance and innovation coexist to modernize money for the internet age.
