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U.S. Credit Union Pioneers Stablecoin with Launch of Cloud Dollar

St. Cloud Financial Credit Union (SCFCU) in Minnesota is set to introduce a new stablecoin, Cloud Dollar (CLDUSD), which it claims to be the first of its kind from a U.S. credit union.

This innovative token is being developed in collaboration with blockchain firm Metallicus and financial technology provider DaLand CUSO, and it aims to debut in late 2025.

With CLDUSD, SCFCU seeks to facilitate efficient on-chain money movement, including merchant payouts and member transactions, all while minimizing card-network fees.

Stablecoins have become a significant segment in the cryptocurrency landscape, valued at approximately $270 billion, with many pegged to the U.S. dollar.

The launch follows the enactment of the GENIUS Act, which has provided regulatory clarity for digital assets in the United States.

SCFCU's initiative demonstrates how smaller financial institutions are leveraging blockchain technology to remain competitive in a rapidly evolving fintech environment.

Unlike mainstream stablecoins such as USDT or USDC, CLDUSD will be integrated directly with the credit union’s existing banking system, enhancing its usability for members.

The token will utilize the Metal Blockchain and DaLand CUSO’s Coin2Core software to connect blockchain services with traditional banking operations.

This strategic move underscores the need for credit unions to actively participate in the digital asset space, as expressed by DaLand CUSO CEO Jeff Levesque.

In summary, SCFCU's Cloud Dollar represents a forward-thinking approach to stablecoins by community-focused financial institutions in the U.S.