Overview
- The Nebraska Department of Banking and Finance granted final charter approval on November 11, making Telcoin Digital Asset Bank the first U.S. Digital Asset Depository Institution.
- The charter permits issuance of eUSD, described as a bank‑issued, on‑chain dollar stablecoin backed by U.S. dollar deposits and short‑term Treasuries.
- Telcoin says the license enables connections between U.S. bank accounts and blockchain assets with explicit authorization for consumer access to DeFi and use of Federal Reserve payment rails.
- The company plans deposit accounts, crypto‑backed lending, and yield products, with rollout subject to additional regulatory and operational approvals.
- TEL jumped roughly 95% in the 24 hours after the announcement to around $0.006, with trading volume near $1.74 million and market value about $610 million, as coverage cited Nebraska’s 2021 law and recent GENIUS Act guidance as catalysts.