Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnAISquareMore
Fintech and insurance giant TruStage pilots stablecoin geared for credit unions

Fintech and insurance giant TruStage pilots stablecoin geared for credit unions

The BlockThe Block2026/02/24 19:18
By:The Block

TruStage, a financial technology firm that reportedly works with about 93% of all U.S. credit unions, is issuing a dollar-pegged stablecoin. The TruStage Stablecoin (TSDA) will be issued through a partnership with blockchain tech firm Block Time Financial.

Block Time will provide operational support, including security protocols and digital account capabilities, while an affiliate of TruStage will act as the stablecoin’s issuer and manage the token’s 1:1 cash reserves, according to a on Tuesday.

"We're thrilled to see stablecoins gaining traction within financial institutions as an emerging payment infrastructure, yet one of the largest untapped segments is credit unions," Block Time CEO Bruce Rosenheimer said in the release. "The strong history and trust TruStage has built with credit unions allows it to create a widely adopted solution for the whole industry. We are excited to be part of this endeavor."

TruStage Ventures President and Managing Director Brian Kass notes the firm’s exploration comes on the back of the GENIUS Act, which provided federal standards for issuers in the United States.

Of note, the U.S. Congress is currently working on broader crypto market structure legislation that has been held up, in part, by banking and credit union concerns over stablecoin yield offerings, which could draw deposits away from traditional savings and checking accounts.

"In my career working with credit unions, Ive never witnessed the level of engagement surrounding any technology advancement similar to what I'm seeing with stablecoin solutions right now," Kaas said, adding that TSDA will operate under a "collaborative stablecoin model."

TruStage is in the process of recruiting credit unions to join its pilot program, which will initially run throughout the first half of 2026. The firm notes it expects TSDA to find use for loan funding and settlements, peer-to-peer transactions, cross-border payments, and settlements and disbursements among credit unions.

Founded in 1935, TruStage provides insurance products, investment solutions, retirement plans, and other financial tools tailored for credit unions.

"Stablecoins are changing how people and institutions move money, and they offer a valuable opportunity to expand access to financial services, which aligns with the TruStage mission," said Terrance Williams, President and CEO of TruStage. "We're committed to meeting partners and consumers where they are and creating innovative solutions to strengthen trust and inclusion in the digital economy."

As big banks begin exploring stablecoin integrations, several crypto-native firms are working to issue stablecoins under federal oversight, including Tether USAT and Stripe subsidiary Bridge. Standard Chartered expects the market cap for all stablecoins to reach $2 trillion by the end of 2028, generating demand for up to $1 trillion in U.S. Treasury bills.


0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

Report: TSMC to Raise Wafer Foundry Prices by 3% to 6% Starting January Next Year, Order Visibility Extended to 2030

According to media reports, TSMC's advanced and high-priced processes such as 2nm and 3nm have seen the largest price increases; mature and specialty processes are subject to individual negotiation based on products, capacity utilization, and customer conditions. Currently, TSMC's 8-inch fabs have a capacity utilization rate exceeding 100%, and processes below 45nm are at full capacity. The construction of AI data centers is not only driving demand for GPU and HBM, but also boosting orders for mature processes such as PMIC, MCU, and analog ICs.

华尔街见闻2026/09/23 20:36

U.S. Treasury plans to repurchase up to $6 billion in long-term bonds, 30-year yield hits highest since 2007

This is the second round of enhanced long-term bond buybacks by the Treasury, this time focusing on 20- to 30-year government bonds. After the announcement of the planned upper limit, the yield on 30-year U.S. Treasury bonds continued to rise, at one point exceeding 5.4%. In the first round of enhanced buybacks two weeks ago, the upper buyback target was also $6 billion, which was lower than some market participants had expected, and the actual buyback amounted to only $5.2 billion due to insufficient competitive bidding, according to the Treasury.

华尔街见闻2026/09/23 20:36