St. Cloud Financial is preparing the first stablecoin of a credit union in the US
Date: 2025-09-15 Author: Oliver Abernathy Categories: BUSINESS
St. Cloud Financial Credit Union (SCFCU) announced the launch of its own stablecoin - the first ever issued by a credit union in the US. The launch is scheduled for the fourth quarter of 2025 and will become part of a new digital asset storage service. The project is being implemented jointly with the blockchain company Metallicus and the DaLand CUSO organization.
According to SCFCU Vice President Chase Larson, credit unions in the country can no longer remain on the sidelines of the rapid development of digital assets. He emphasized that the stablecoin market has already exceeded $270 billion, and participation in it opens up new opportunities for financial cooperatives.
Interest in such initiatives is also confirmed by industry representatives. Interchain Labs co-CEO Magnus Marenek noted that traditional financial institutions are beginning to recognize the strategic importance of issuing their own stablecoins. According to him, such a move helps companies establish control over their infrastructure and manage inter-chain settlements more efficiently.
The introduction of stablecoins by credit unions could change the dynamics of the American financial market. Unlike banks, such unions are focused on their members and provide them with more flexible terms of service. Integrating a stablecoin into the banking system will combine the advantages of a traditional credit union and blockchain innovations.
However, the United States is not the only country where this trend is developing. Recently, the sixth-largest commercial bank in Canada, The National Bank of Canada, supported the Tetra Digital Group project, which is launching a private stablecoin pegged to the Canadian dollar. This move demonstrates that interest in stable digital currencies is growing not only among fintech startups, but also among large institutional players.
Analysts note that stablecoins are becoming a key tool in the development of the financial ecosystem. Their use promises to reduce transaction costs, speed up settlements, and provide more reliable storage of funds in digital format. For credit unions, this is also an opportunity to strengthen their positions against the backdrop of increasing competition from banks and fintech companies.
Thus, the SCFCU initiative could become an important precedent for the entire US credit union sector. If the project is successful, it can set a new standard for working with digital assets in this area and attract attention to similar solutions throughout North America.
