TLDR
- St. Cloud Financial Credit Union (SCFCU) in Minnesota plans to launch its own stablecoin, Cloud Dollar (CLDUSD), by Q4 2025.
- SCFCU’s stablecoin will be issued on the Metal Blockchain and integrated with the credit union’s banking system using DaLand CUSO’s Coin2Core software.
- The launch aims to lower transaction fees compared to traditional card networks while improving payment efficiency for members and institutions.
- SCFCU’s Cloud Dollar will serve as a model for other regulated institutions looking to adopt blockchain-based payment solutions.
- This move positions SCFCU as the first U.S. credit union to introduce a stablecoin, highlighting its leadership in blockchain adoption in the banking industry.
St. Cloud Financial Credit Union (SCFCU), based in Minnesota, will release a proprietary stablecoin by Q4 2025. The digital currency, Cloud Dollar (CLDUSD), will be the first stablecoin launched by a U.S. credit union. This move places SCFCU at the forefront of integrating traditional banking with digital currency solutions. The stablecoin will be issued on the Metal Blockchain and integrated with SCFCU’s banking system.
SCFCU Partners with Metallicus for Cloud Dollar
The Minnesota-based credit union has partnered with blockchain firm Metallicus and fintech company DaLand CUSO for the project. SCFCU will use DaLand CUSO’s Coin2Core software to integrate the stablecoin into its banking system. Officials expect the Cloud Dollar to provide lower transaction fees compared to traditional card networks.
“We’re readying our shop for on-chain money movement, at a fraction of card-network fees,” said Chase Larson, EVP/CLO at SCFCU.
This collaboration will enable SCFCU to offer faster and more efficient payments for members and institutions. It will also streamline merchant payouts and peer-to-peer transactions. According to Larson, the project aligns with SCFCU’s goal to bring modern fintech solutions to its members. This stablecoin will set a new standard in the U.S. financial industry.
Credit Unions Urged to Embrace Digital Assets
SCFCU’s stablecoin launch signals a major shift in the intersection of traditional banking and blockchain technology. The credit union aims to tap into the rapidly growing $270 billion stablecoin market. Jeff Levesque, CEO of DaLand CUSO, emphasized the importance of trusted organizations handling digital assets safely.
“Credit unions can’t afford to watch digital assets evolve without them,” he said.
The launch could inspire other smaller, regulated institutions to explore blockchain-based solutions for payments. It represents a significant step in bridging the gap between traditional financial systems and the evolving digital asset ecosystem.
