Key Highlights
- The bank will link regular U.S. bank accounts to blockchain assets, giving people safe and regulated access to DeFi for the first time.
- TEL’s price spiked nearly 70%, trading between $0.0028 and $0.0067 before settling near $0.0055.
- The approval came after the GENIUS Act, which sets national rules for stablecoins and digital assets.
Telcoin (TEL), a blockchain-based digital payment and remittance platform, received final approval from Nebraska Department of Banking and Finance to operate as the first Digital Asset Depository Institution (DADI) in the United States.
The approval, announced on November 11, 2025, allows Telcoin Digital Asset Bank to issue eUSD, a stablecoin backed by U.S. dollar deposits and short-term treasuries and connect traditional bank accounts directly to blockchain-based assets.
The charter allows Telcoin Digital Asset Bank to operate as a regulated bank that can accept crypto deposits, provide crypto-backed loans, and access Federal Reserve payment systems.
The bank aims to connect traditional U.S. bank accounts directly to blockchain-based assets, marking the first time a U.S. bank can offer consumer access to decentralized finance (DeFi) under full regulatory oversight.
TEL token skyrockets
Following the announcement, Telcoin’s token price spiked nearly 70% and it is currently trading around $0.0055 according to CoinMarketCap, with daily trading volume reaching $31.88 million. Over the past week, Telcoin has climbed about 97%, making it one of the top performers among the top 200 cryptocurrencies by market cap. Despite this rally, the token remains well below its all-time high of $0.0649 set in May 2021.
Telcoin operates in over 170 countries, primarily focusing on mobile-based digital payments and remittances. Its platform aims to make cross-border transfers faster and more accessible than traditional banking methods.
Telcoin charts a new course in banking
Paul Neuner, Telcoin’s Founder, described the charter as historic for the U.S. banking system, highlighting that it shows a bank can issue on-chain digital currency while staying compliant.Â
The bank’s flagship product, eUSD, is positioned as the nation’s first bank-issued, on-chain U.S. dollar stablecoin. This regulated approach directly addresses the systemic risk concerns around stablecoins expressed by federal regulators.
The charter comes in the wake of the GENIUS Act, federal legislation offering guidance on stablecoins and digital assets. Analysts say Telcoin’s approach addresses regulatory concerns about systemic risk in the stablecoin market.
The Nebraska Financial Innovation Act of 2021 set the stage for this development, and Governor Jim Pillen officially signed off on the charter at the State Capitol in Lincoln.
Patrick Gerhart, the bank’s President of Banking Operations, noted that only 5% of U.S. banks currently manage digital assets in-house, and Telcoin intends to help other banks bridge the gap to blockchain finance.
Telcoin Digital Asset Bank plans to offer compliant stablecoin yield products and provide both retail and commercial banking services, subject to regulatory approval.
Also Read: Uniswap’s Fee Switch Proposal Sparks 48% UNI Price Surge
