Minnesota Credit Union Plans Launch of First U.S. Stablecoin

St. Cloud Financial Credit Union (SCFCU) plans to launch a proprietary stablecoin, Cloud Dollar (CLDUSD), which it claims will be the first from a U.S. credit union. Key details include:

Development in collaboration with Metallicus and DaLand CUSO
Launch expected in Q4 2025 as part of a digital asset vault service
Intended for on-chain money movement with reduced fees and enhanced transparency

Stablecoins represent a significant $270 billion sector in cryptocurrencies, primarily tied to the U.S. dollar, gaining popularity for payments. SCFCU's initiative illustrates how smaller financial institutions are adopting blockchain technology to remain competitive.

CLDUSD differs from established stablecoins like USDT and USDC, as it integrates directly with SCFCU's banking system. It utilizes the Metal Blockchain and is linked through Coin2Core software, allowing members to transfer funds quickly and cost-effectively within a regulated framework.

Jeff Levesque, CEO of DaLand CUSO, emphasized the necessity for trusted institutions in the evolving digital asset landscape.